Unilever: shares rise after Jefferies upgrade
(CercleFinance.com) - Unilever shares are up 1.
8% at 51.9 euros on Friday after Jefferies upgraded its rating from "hold" to "buy," following the shares' "material" correction and ahead of its fourt-quarter results on 30 January.
"Sentiment is bleak and consensus has chosen to interpret full-year 2020 growth guidance conservatively," Jefferies analysts say in a note.
"With signs of green shoots in key markets and low valuation a spur to action - or an invitation for activism - we turn positive," they added.
Jefferies has raised its target price from 53 euros to 59 euros.
The shares have fallen by nearly 4% over the six past months.
Copyright (c) 2020 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.
8% at 51.9 euros on Friday after Jefferies upgraded its rating from "hold" to "buy," following the shares' "material" correction and ahead of its fourt-quarter results on 30 January.
"Sentiment is bleak and consensus has chosen to interpret full-year 2020 growth guidance conservatively," Jefferies analysts say in a note.
"With signs of green shoots in key markets and low valuation a spur to action - or an invitation for activism - we turn positive," they added.
Jefferies has raised its target price from 53 euros to 59 euros.
The shares have fallen by nearly 4% over the six past months.
Copyright (c) 2020 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.