Argus Research Sticks to Their Buy Rating for Unilever (UL)We expect Unilever to benefit from new products, further expansion in emerging markets, and ongoing efforts to improve productivity. The company continues to refine its portfolio of brands to position itself for future growth, including the announcement of the separation of the Ice Cream business. Unilever is currently less profitable than many peers, with an operating margin of 18.4%, up from 16.7%, but still below the peer average of 21.7%. However, as management reaches its operating margin goals over time, we look for earnings to grow faster than the industry average and for multiples to expand. Management has also signaled confidence with a 6% dividend increase.