UPDATE: Jefferies Raises PT to $39.10 on Unilever; Organic Growth
Jefferies raises its price target from $36 to $39.10 on Buy-rated Unilever (NYSE: UL) following impressive organic growth at the company.
Jefferies says, "We confirm our BUY rating with Unilever trading at a 14% discount to peers and having underperformed its European peers by 6% since 01.01.12. Org. growth of 8.4% in Q1-12 impressed owing to sustained volume growth of 3.5% despite steep pricing demonstrating the improving brand equity base of the company."
UL closed at $34.32 on Monday.
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