Unilever has outperformed its consumer goods sector by 15% recently, but there is still more to go believes Citigroup.
There is scope for relative consensus earnings upgrade in the short-term and longer-term re-rating potential, in a sector lacking other ‘clean’ turnaround stories or relatively cheap growth compounders.
Tesco PLC (LSE:TSCO) shares have jumped more than 2% on the back of its first-quarter results, making it one of the FTSE 100's top risers today.
Markets welcomed the group's ability to post another quarter of market share gains, helped by rising volumes, a focus on value and better-than-expected sales growth in Ireland.