0844 GMT - Unilever's 3Q update shows that the company remains on the road to recovery, Quilter Cheviot's Chris Beckett says. It also indicates that there is still room for a further rating upgrade if the company maintains the same performance, despite the robust share price growth already this year, he says. The consumer-goods giant continued its positive run of results in recent quarters. Sales were a little better than expected, suggesting that the momentum recently generated could stay for longer as the business transforms itself. However, some negative trends in the sector remain, such as China's soft consumer backdrop and issues in Indonesia. Unilever's guidance doesn't suggest improvements in these two countries any time soon, Beckett adds. Shares are up 3.9% and up nearly 30% since the start of 2024. (michael.susin@wsj.com)
(END) Dow Jones Newswires
October 24, 2024 04:44 ET (08:44 GMT)
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