Analysts at Deutsche Bank lowered their target price on consumer goods manufacturer Unilever from 4,500.0p to 4,400.0p on Friday, stating it was “trimming the upside”.
Deutsche Bank said Unilever’s investor day showcased what it believed to be “a company with an improving quality of innovation” and “better commercialisation of such innovation”.
However, that being said, DB opted to make some small reductions to its margin forecasts to take into account higher investment, and also said that tax, interest, and foreign exchange effects further crimped its forecasts.
“There will likely be focus on the company guidance of moderate margin improvement within their multi-year financial framework,” said DB, which reiterated its ‘buy’ rating on the stock.
Reporting by Iain Gilbert at Sharecast.com
