Jefferies analysts noted in a report that Magnum Ice Cream is unlikely to gain further momentum from current levels. Although the Unilever spin-off has performed well since its IPO, there remains some uncertainty surrounding its earnings and cash flow forecasts. Analysts noted that while part of Unilever, the business focused on improving returns and generating cash, which has now created room for the ice cream company to modernize its supply chain and boost growth through investment. However, analysts also pointed out that prior to the spin-off, the ice cream business’s return on investment was relatively lower than that of Unilever’s other business segments. Currently, the company’s stock price has fallen 0.7% to €12.98.