This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Brexit p7
Hold at arm’s length?
Unilever (ULVR) / FMCG
Unilever is a multinational player and a classic defensive play, deriving 27% of its revenue and 27% of operating profit from within Europe. Times of uncertainty often see investors buy into consumer staples because demand in that sector is seen to remain constant, that is to say it’s not likely to go up much or down much over time. We’re headed towards an EU referendum, not Armageddon, and so this is likely to remain the case as we approach 23 June. ULVR could well garner more interest from investors as a safe haven as the Brexit fears intensify, yet there are bound to be those worried about the amount of exposure the company has to Europe. With balanced forces, shares often trade in very tight ranges. Is ULVR one of those stocks that should simply be held onto for now?
Broker Consensus
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Prepared by Michael van Dulken, Head of Research
