NEW YORK (Reuters) -- Nestle SA (NESN.VX) shares look undervalued and could rise 20 percent over the next 12 months, weekly financial Barron's said on Sunday.

""Arguably, they're the strongest food company in the world,"" Eric Scher, a Sanford C. Bernstein analyst told Barron's. ""Nobody else is growing at everything straight across the board like Nestle."" Scher argues Nestle shares should be trading about 20 percent higher in a year.
The report said that, at its recent price of about 490 Swiss francs, the stock was trading about 10 percent below its 52-week high and at a discount to most of its peers on several valuation measures.
With names such as Butterfinger candy bars, Gerber baby foods, Stouffer's and LeanCuisine frozen meals, JuicyJuice beverages, Nestle has a global stable of blockbuster brands -- 29 of which have annual sales, report said.