Goldman Sachs Downgrades Unilever (UN) to Neutral
Get Alerts UN Hot Sheet
Rating Summary:
9 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 11 | New: 43
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Goldman Sachs downgraded Unilever (NYSE: UN) from Buy to Neutral.
Analyst Rosie Edwards said, "We downgrade Unilever to Neutral from Buy following sector outperformance ytd (160bp since January 2014) and a modest reduction in earnings post 2Q14 results. Earlier this year our earnings were lowered as we deferred our use of cash assumptions to 2015 given the lack of activity on this front. Acquisitions however remain the priority for Unilever for use of cash."
"Our new 12-month price target of €34 (from €35, on lower estimates) implies 7% upside which is broadly in line with the average of our sector (4%)," added the analyst.
For an analyst ratings summary and ratings history on Unilever click here. For more ratings news on Unilever click here.
Shares of Unilever closed at $42.13 yesterday.
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