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Unilever: Liberum upgrades to 'buy'

(CercleFinance.com) - Liberum has upgraded its rating on Unilever from "hold" to "buy," with a target price of 59.
7 euros, following the consumer goods group's recent investor days.

In a note to clients, the broker said it sees "top line breakout in sight."

"The market misses that management focus on scaling the brands of tomorrow whilst disposing of slow-growth assets should help Unilever become a mid-single-digit top-line growth company in time," it wrote.

Liberum sees scope for two billion euros in cost savings per year - even beyond 2020 - providing firepower to reinvest and to expand margins beyond the 20% target.

The Unilever share is currently up 1.3% at 54.5 euros on Euronext Amsterdam.

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