Nestlé is up over 1% in Zurich, helped by comments from UBS, which reaffirmed its 'buy' recommendation on the Swiss food group's shares, despite a price target slightly lowered from 121 to 118 Swiss francs.

In the summary of its note, the broker justifies its positive view of the dossier by "a convincing valuation and the possibility of upgrades and a significant improvement in real internal growth during 2024".

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