Forecast Of The Day: Unilever’s Foods & Refreshment Revenues

UL: Unilever logo


Unilever’s (NYSE:UL) foods & refreshment revenues – which include its foods, ice cream, and beverages categories – rose from $21.6 billion in 2019 to $24 billion in 2021. Trefis expects the metric to rise to about $25 billion by 2023.


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While growth over 2020 and 2021 was driven by higher demand through the Covid-19 lockdowns, we expect the growth rate to cool a bit going forward.

So What?

We think UL stock is undervalued at current levels. We value UL at about $63 per share, 40% ahead of the current market price.

See Our Complete Analysis For Unilever

What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since the end of 2016.

Returns Mar 2022
MTD [1]
YTD [1]
Total [2]
 UL Return -10% -16% 12%
 S&P 500 Return -2% -10% 91%
 Trefis MS Portfolio Return -3% -13% 244%

[1] Month-to-date and year-to-date as of 3/10/2022
[2] Cumulative total returns since the end of 2016

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