Unilever's Stock Valuation: Undervalued or Overpriced?

Unilever shares have been sideways for the past year, down 3% over 12 months, but up 10% over three and five years. Analysts see potential upside in the current price, citing increased investment in brand marketing, innovation, and portfolio transformation. However, persistent competition and weaker than expected emerging market growth could challenge these forecasts. Market multiples tell a less optimistic story, suggesting the market may already account for future growth.