Unilever: stock up, as broker more confident

(CercleFinance.com) - Unilever shares are up slightly on Tuesday morning in London, benefiting from a rating upgrade by analysts at RBC.


The Canadian bank upgraded its rating on the consumer products giant to "sector perform" from "underperform", with a target price raised from 3,400 to 3,600 pence.

In comments published in the morning, RBC believes that the Anglo-Dutch group has recently suffered from overconfidence and a lack of humility, but believes that this could soon change.

The broker says that there are some "interesting" developments, such as the recent reorganisation of the company's structure and the entry into the capital of the activist fund Trian.

Just before noon, Unilever shares were up a fraction 0.2%, bringing their YTD decline to just 2%.


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