Undervalued Unilever Delivers Solid 4Q With Slightly Improved Growth and Strong Cost Execution
On an underlying basis, Unilever performed almost exactly in line with our expectations in 2017, with below-par growth offset by strong execution on costs. The company's wide economic moat is intact, thanks to its supply-chain entrenchment, but sluggish growth highlights the urgency of the changes management has taken to make Unilever more agile in its route to market. We do not expect to make any material changes to our EUR 52 fair value estimate, and we still regard Unilever as offering some v...Unilever is engaged in the supply of consumer goods in foods, household care and personal products. Co.'s activities are carried out through four categories: Personal Care, sales of skin care and hair care products, deodorants and oral care products; Home Care, sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products; Foods, sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; and Refreshment, sales of ice cream and tea-based beverages. Co.'s products are sold in over 190 countries around the world.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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