MARKET TALK: S&P Equity Research Cuts Unilever Price Target

20th Jul 2010 17:43

1643 GMT [Dow Jones] S&P Equity Research cuts Unilever (ULVR.LN) price target to 2000p from 2150p following recent declines in peers' valuation multiples. Notes the company's agreement, subject to EU anti-trust clearance, to sell its Findus Italy frozen foods activities to the Birds Eye Iglo business owned by private equity firm Permira. Says the proposed disposal proceeds are EUR805M, which S&P views as reasonable for this type of business. Keeps the stock at hold. Shares closed Tuesday -0.6% at 1879p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 20, 2010 12:43 ET (16:43 GMT)