Nomura Securities Maintains a 'Reduce' on Unilever (UN); Q4 Results Slightly Light of Consensus

Nomura Securities maintains a 'Reduce' on Unilever (NYSE: UN), PT EUR22.60.

Analyst, David Hayes, said, "These (results) are slightly light of consensus and more in line with our more cautious expectations re 4Q sales and margin. We would expect the stock to underperform the market today. We continue to see the market pricing the company as less of a turnaround and more as a better executor from here. The company said that the macro environment remains difficult and it expects RM&P inflation to persist, but at a lower level than 2011. This compares with our estimate for FY12 of 4.8% org sales growth and margin +10bp based on RM&P inflation of 4% for the FY (8% 1H12)."

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 $34.00 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Wolverine World Wide (WWW) PT Raised to $31 at UBS on Growth, EPS Upside Potential
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)