Report
Pierre Tegner

Unilever PLC : CMD: priority for growth. New, relatively convincing organisation

>Outperform maintained - Outperform rating maintained with a target price of € 58. With a P/E 2023e of 17x, the share is valued like a hybrid stock in the food-spirits-HPC sector and this is attributable to the group’s strategic diversification (5 business units). A strategic refocusing is plausible and would offer re-rating potential toward P/E levels of at least 20x, i.e. the lower end of the range for multiples of core holdings (pure players with a broad operating ...
Underlying
Unilever PLC

Unilever is a consumer goods manufacturing group based in the United Kingdom. Co. is engaged in supplying consumer goods in the refreshments, foods, home and personal product categories. Co. supplies its consumers product for nutrition, hygiene and personal care and is active in emerging markets in Asia, Africa, Central & Eastern Europe and Latin America. Co.'s portfolio includes such well-known brands as Knorr, Lipton, Hellmann's, Magnum, Omo, Dove, Lux and Axe/Lynx. Co. manages its brands under the following four category headings: savoury, dressings and spreads; ice cream and beverages; personal care; and home care. Co.'s products are sold in over 190 countries around the world.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Pierre Tegner

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