Unilever PLC

ULVR: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 7,133.00	Ryzy	Pjhzmwgbz

Transferring Coverage of Unilever at EUR 50; Maintaining Wide Moat; Shares Slightly Undervalued

Ioannis Pontikis

Apr 3, 2023

We are transferring coverage of Unilever with a EUR 50 per-share fair value estimate (GBX 4,430 for London-traded shares and $55 per ADR). We maintain Unilever's wide moat and stable moat trend ratings.

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