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23.07.2020

Unilever hits new highs new COVID recovery plan

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EU leaders have finally reached an agreement on a coronavirus pandemic recovery fund aimed at supporting European businesses

Stocks impacted: Unilever (UNA)

Unilever is on course to exceed its target price of £43.70 per share, with the stock capable of pushing even higher in 2020 after EU leaders agree to a new budget and sign-off on €750 billion Covid-19 recovery plan.

A 7.9% jump took Anglo-Dutch Unilever back to levels not seen since the coronavirus-driven crash earlier this year, as it said a strong performance in North America helped offset the hit from widespread lockdowns.

Unilever is trading at £43.69 at the time of publication, with the stock up marginally on a year-to-date basis, but still outperforming the broader market with the FTSE 100 down 17% due to the economic impact of Covid-19.

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