Redburn Atlantic upgraded Unilever to Buy from Neutral with a price target of 5,100 GBp, up from 4,000 GBp. The analyst says “genuine change is happening” at Unilever with a management team, revitalized board, upgraded operating plan, improved portfolio, and more dynamic organizational structure. In addition, the underlying business is in better shape, with the Power Brands growing at 9% annually and the U.S. business growing at 6%. Redburn sees more room to run for the shares.
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