Barclays reaffirms its 'overweight' recommendation on Unilever, while raising its target price from £50 to £52, still considering it to be the most convincing turnaround in consumer staples in Europe.

The broker points out that the Anglo-Dutch company has achieved two consecutive strong quarters in terms of volumes, and believes that the second quarter could now see a significant outperformance of margin expectations.

Unilever is becoming a higher-growth, higher-margin business", adds Barclays, which has raised its sales, margin and EPS estimates for the group.

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