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Unilever: Liberum reiterates 'hold' rating; 45 euro target.

(CercleFinance.com) - Liberum on Tuesday reiterated its "hold" rating on Unilever shares, with a target price of 45 euros, saying that it is waiting for signs of top-line acceleration.

Since the Anglo-Dutch conglomerate posted its quarterly results, the stock has fallen by nearly 10% as investors question if management's margin targets are detracting from the group's ability to deliver top-line growth, the broker points out.

"While Unilever remains on track to deliver solid EPS and cash flow growth, we expect valuation will remain capped until there is evidence of organic sales acceleration," Liberum says.

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