Unilever Indonesia (UNVR IJ): Remain cautious over its 2024 outlook

Unilever Indonesia (UNVR IJ)
HOLD-OPF / TP: IDR:2,400 (+8.1%)
Analyst: Laras Nadira

Remain cautious over its 2024 outlook
• Expansion of core product could dilute another brand
• Negative volume growth despite price cuts
• View challenging outlook for FY2024
• Maintained HOLD-OPF