Unilever: Jefferies lowers price target

(CercleFinance.com) - Jefferies reaffirms its 'underperform' rating on Unilever with a price target cut from 4100 to 3700 pence, in the wake of an update after the 2024 results published last month and the change of CEO.


'A less ambitious narrative on the outlook for 2025 was a setback and a reminder that, ultimately, it is category growth that drives sales momentum, in our view', the broker believes in its note on the fast-moving consumer goods group.

According to Jefferies, the new CEO will seek to shift Unilever's category exposure in a more growth-friendly direction, and 'communicating this hope could buy time, if 2025 proves to be a fighting year'.

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