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UBS has maintained a 'Sell' rating for Unilever, setting a target price of 4000 pence following the company's third-quarter sales results. Analyst Guillaume Delmas noted that Unilever's performance, particularly in the ice cream sector, significantly surpassed expectations, achieving nearly three times the anticipated growth.
UBS has maintained a "Sell" rating for Unilever, setting a target price of 4000 pence, following the company's third-quarter sales figures. Analyst Guillaume Delmas noted that Unilever's growth, driven by its ice cream business, significantly surpassed expectations, nearly tripling the consensus estimate.
European stocks rebounded, with the Stoxx Europe 600 Index rising 0.6% following positive earnings reports across various sectors after three days of declines. Travel and leisure, along with personal care, drug, and grocery sectors, led the gains. Notably, Unilever Plc saw a boost from accelerating sales growth, while Barclays Plc reported an increase in trading revenue.
Unilever Plc is experiencing accelerated sales growth as CEO Hein Schumacher's turnaround strategy takes effect. In the third quarter, revenue rose by 4.5%, surpassing analysts' expectations of 4.3%, with consumer demand increasing for the fourth consecutive quarter.
European stocks are set for a mixed open as traders await earnings reports from major companies like Barclays and Unilever, amid a backdrop of declining U.S. markets. The U.K.’s FTSE 100 is expected to rise slightly, while Germany’s DAX and France’s CAC are projected to open lower. Global sentiment has been affected by the recent downturn in U.S. indices, with the Dow experiencing its largest one-day loss since early September.
UBS has maintained a 'Sell' rating on Unilever shares, setting a target price of 4000 pence, following recent financial results from Hindustan Unilever and Unilever Indonesia. The company, a major player in consumer goods with over 400 brands, emphasizes sustainability through its Unilever Sustainable Living Plan, aiming for 100% of its plastic packaging to be reusable, recyclable, or compostable by 2025.
Hindustan Unilever's CEO Rohit Jawa announced plans to separate the company's ice cream business, which includes brands like Kwality Walls, Cornetto, and Magnum. He noted that while the ice cream sector is high growth, it requires significant investment and operates on low margins, with limited synergies with the grocery business. This decision aligns with Unilever PLC's earlier announcement regarding the separation of its global ice cream operations.
UBS has maintained a "Sell" rating on Unilever shares, setting a target price of 4000 Pence. This decision follows the financial results from Hindustan Unilever and Unilever Indonesia, as noted by analyst Guillaume Delmas in a recent report.
Hindustan Unilever Ltd., India's largest household-products manufacturer, reported a second-quarter net income of 26.1 billion rupees ($310 million), a 4% decline from the previous year. This figure fell short of analysts' expectations, which averaged 27.06 billion rupees, amid ongoing weak demand for consumer goods.
Hindustan Unilever Ltd (HUL) has announced its decision to separate its ice cream business, following a recommendation from an Independent Committee after a thorough review. This restructuring aims to enhance focus on core areas such as Beauty, Foods, Health, and Wellbeing, aligning with Unilever PLC's global strategy to separate its ice cream operations.
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ubs maintains sell rating on unilever with target price of 4000 pence
15:09 24.10.2024
UBS maintains sell rating on Unilever with target price of 4000 pence
15:09 24.10.2024
european stocks rise on strong earnings from multiple sectors
09:18 24.10.2024
unilever reports accelerating sales growth amid successful company turnaround
08:12 24.10.2024
european stocks mixed as traders await earnings amid us market declines
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07:18 24.10.2024
ubs maintains sell rating on unilever with target price of 4000 pence
17:15 23.10.2024
Hindustan Unilever plans separation of low margin ice cream business
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UBS downgrades Unilever to sell with target price of 4000 pence
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