Report
Philip Gorham, CFA, FRM
EUR 101.80 For Business Accounts Only

Unilever’s Strategic Review Likely to Lead to Accelerated Cost Savings, Asset Sales

Unilever announced on Feb. 22 that it is to undergo a strategic review following the recent approach from Kraft Heinz. We believe the company will stop short of a separation of the foods and personal care businesses, but we would not be surprised to see significant asset sales. We are reiterating our wide economic moat rating for the firm and our EUR 40 fair value estimate for the shares traded in Amsterdam. Both of these could change, however, in the event of transformative asset sales.
It is i...
Underlying
Unilever PLC ADS

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Philip Gorham, CFA, FRM

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