Unilever: Oddo maintains buy rating
(CercleFinance.com) - Oddo maintains its buy rating on the Unilever share with a target price of 58 euros (8% upside).
Oddo believes that Unilever's unification project - approved by 99.42% of the shareholders - is a step that will result in the end of the hybrid structure that exists since 1930 with NV and PLC- which have an equivalent interest in the economic entity Unilever.
Although unification does not change the group's morphology or its business model, it should highlight the progress of the last five years - particularly in terms of governance (end of the titles of the founding heirs with special voting rights, deletion of Stichting, which was an interface between the NV holders and the legal entity), Oddo says.
Ultimately, Unilever PLC is expected to absorb Unilever NV, which will be last listed on 20 November 2020.
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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.
Oddo believes that Unilever's unification project - approved by 99.42% of the shareholders - is a step that will result in the end of the hybrid structure that exists since 1930 with NV and PLC- which have an equivalent interest in the economic entity Unilever.
Although unification does not change the group's morphology or its business model, it should highlight the progress of the last five years - particularly in terms of governance (end of the titles of the founding heirs with special voting rights, deletion of Stichting, which was an interface between the NV holders and the legal entity), Oddo says.
Ultimately, Unilever PLC is expected to absorb Unilever NV, which will be last listed on 20 November 2020.
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.