Brokerage Report: Goldman Sachs maintains ‘Neutral’ on HUL, reflects 6% upside

Goldman Sachs has reaffirmed its ‘Neutral’ rating on Hindustan Unilever (HUL) with a target price of ₹2,480, indicating a 6% upside from the current market price of ₹2,340.

The brokerage cited Q3 performance as below estimates on EBITDA and volume growth. Management has revised its near-term outlook to a moderating consumption environment, driven by urban slowdown and a consumer shift toward smaller packs.

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Soap volumes have notably declined due to price increases and gramme reductions. The report highlights ongoing challenges in navigating the softer consumption trends in urban markets.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.