Unilever: shares turn lower despite an analyst's upgrade.

(CercleFinance.com) - Unilever shares listed on Euronext Amsterdam have fallen back down today, after opening slightly higher, despite BarCap upgrading its rating on the stock.


The stock is currently down 0.3% at 46.55 euros, after opening up at 46.87 euros.

This morning Barclays raised its rating on the shares of the Anglo-Dutch consumer goods giant to "overweight," increasing its target price to 50.40 euros.

Its decision comes as Unilever said it would conduct a review of potential options to accelerate value for shareholders after its failed merger talks with US food giant Kraft Heinz.

For the record, the company expects the review to be completed by early April.

In a research note, Barclays says it expects Unilever to extend the reach of its "zero-based budgeting" initiatives to more mature categories/geographies and edge up its margin guidance.

"We see synergies across food/HPC whilst Unilever is amongst the most favourably positioned staples companies, in our view, to benefit from emerging market category develop," the broker says.

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