Unilever: stock falls after UBS downgrade
(CercleFinance.com) - Unilever shares fell on Tuesday after UBS downgraded its investment rating on the consumer goods giant due to its recent "shopping spree.
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UBS analysts now have a "neutral" rating - from "buy" previously - and have trimmed their target price for the share from 51 euros to 49 euros.
"Efforts to accelerate top-line have so far not delivered" they wrote in a research note. "Full consensus and fair valuation limits upside potential."
In morning trading on Euronext Amsterdam, Unilever shares were down 0.9% at 46.3 euros. The AEX index was little changed.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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UBS analysts now have a "neutral" rating - from "buy" previously - and have trimmed their target price for the share from 51 euros to 49 euros.
"Efforts to accelerate top-line have so far not delivered" they wrote in a research note. "Full consensus and fair valuation limits upside potential."
In morning trading on Euronext Amsterdam, Unilever shares were down 0.9% at 46.3 euros. The AEX index was little changed.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.