TD Cowen's First 4Q Impressions on Unilever plc (UL)

TD Cowen analyst Robert Moskow reiterated a Buy rating and $70.00 price target on Unilever plc (NYSE: UL).

The analyst commented: "Unilever 4Q org sales of 4.0% in-line w cons +4.1% with vol growth slowing sequentially to 2.7%. 2H op margin beat by 20 bps and EPS beat by €0.07. Stock reacted negatively to commentary on the call that 3-5% growth for 2025 will be 2H wtd including sequentially lower 1Q growth and 1H margins down. We view reaction as too negative given pricing offsets coming in 2H and pos. EPS revision for 2025.

2025 Outlook: Organic sales growth of 3-5% with growth more weighted towards 2H than 1H. Volume/ mix growth in 1Q25 expected lower sequentially than 4Q24, but should improve through the year with benefits in Indonesia and China from actions taken in 2024. Pricing will also be a more significant driver in 2H than in 1H from the lag between their pricing strategy and higher commodity costs."

For an analyst ratings summary and ratings history on Unilever plc click here. For more ratings news on Unilever plc click here.

Shares of Unilever plc closed at $59.14 yesterday.

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