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Nestle (NSRGY) has selected Rothschild to advise on the sale of its water division later this year, four people familiar with the matter tell Reuters, Amy-Jo Crowley, Andres Gonzalez and Richa Naidu report. The water unit could be valued at EUR 5B or more, a source says, adding that Nestle is aiming to keep a stake in the business. Sources say “several” private equity companies are interested in the Nestle unit.

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• Nestle price target lowered to CHF 77 from CHF 79 at Morgan Stanley

• Nestlé’s Strategic Pricing and Strong Brand Presence Drive Buy Rating Amidst Inflation Challenges

• Nestle price target lowered to CHF 88 from CHF 93 at RBC Capital

• Nestle reports Q1 sales CHF 22.6B vs. CHF 22.1B last year

• Nestle says ‘Fuel for Growth’ program ‘progressing to plan’