1334 GMT - Unilever's first-quarter update was broadly as expected and is unlikely to change consensus expectations or investors' views on the company much, RBC Capital Markets' James Edwardes Jones and Wassachon Fon Udomsilpa say. RBC cuts its target price on the U.K. consumer-goods company to 38 pounds from 40 pounds due to currency changes. "We don't imagine that either bulls or bears will have changed their views on the basis of Unilever's [first quarter] sales," the analysts say in a note. "We remain amongst the latter, reflecting our belief that Unilever's portfolio is not best in class while its valuation is there or thereabouts." Shares fall 0.5% to 47.92 pounds. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 24, 2025 09:35 ET (13:35 GMT)
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