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.
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.
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.
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.