Unilever Indonesia (UNVR IJ): Bumpy road ahead

Unilever Indonesia (UNVR IJ)
HOLD-OPF / TP: IDR:4,750 (+2.4%)
Analyst: Laras Nadira

Bumpy road ahead
• Net profit below expectations
• Sluggish margin in 3Q22
• Earnings adjusted
• Downgrade to HOLD with lower TP