Bernstein upgraded Unilever (UL) to Outperform from Market Perform with a price target of 5,200 GBp, up from 3,900 GBp. The firm has a more constructive long-term view on the European food and personal care sector. Industry growth is slowing, and so is global economic growth. but the “share losses of the pre-pandemic decade need not be structural,” the analyst tells investors in a research note.
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