Unilever: Credit Suisse raises target price.

(CercleFinance.com) - Credit Suisse maintains its "neutral" rating on Unilever, while raising its target price from 43 euros to 49 euros, after the consumer goods company yesterday unveiled a program to accelerate shareholder value creation.


The brokerage firm - which deems the plan "pretty close to what we had expected" - says the decision to divest the baking, cooking and spreads (BCS) business doesn't come as a surprise as the division was already carved out a few years ago.

UBS says it considers "more a surprise how long it has taken for the group to decide to exit", adding that a de-merger looks a more likely option at this stage.

While the group has gone through a significant overhaul over the past six years, the broker points out that shareholders have not seen enough of the benefits, still noting that Unilever shares are now up 20% since Kraft Heinz's first approach in mid-February.

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