INSUBCONTINENT EXCLUSIVE:
MUMBAI: Some brokerages raised target price on the Hindustan Unilever stock following its June quarter result while others downgraded it
citing expensive valuations.
CLSA, Edelweiss, HSBC, ICICIdirect, Motilal Oswal and Nomura increased target price on the stock by 4-18 per
However, Antique Stock Broking, Nomura and Jefferies have downgraded the stock.
Shares of HUL ended down 4 per cent at Rs 1,683.75 on
Tuesday.
The FMCG major on Monday reported at 19.17 per cent year-on-year jump in net profit at Rs 1,529 crore for the quarter ended June
growth trajectory is likely to taper down as base normalises and overall demand pick-up remains modest
We estimate the company will report revenue and PAT CAGR of 12.7 per cent and 21.9 per cent, respectively, in FY18-20
CLSA also concurred that valuations are expensive but added that in these uncertain times, they are likely to remain so.
