Home Care and Asia to the Rescue for Unilever in Otherwise In-Line 1Q
In the first quarter of 2019, Unilever grew its top line at a whisker below our forecast for the full-year rate, but at this early stage, we are maintaining our estimates and our EUR 52 fair value estimate. The market reaction to the update has been positive, and after a strong performance in the stock during the last 12 months, the market price is now close to our fair value estimate. We are reiterating our wide moat rating, which was evident this quarter through Unilever's ability to generate ...
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