
Investec has reiterated its ‘Hold’ rating on Hindustan Unilever (HUL) with a revised target price of ₹2,643, reflecting a 13% upside from the current market price of ₹2,340.
The brokerage noted no near-term recovery on the horizon, as growth outcomes remain challenging for HUL amid weaker demand trends in the sector. HUL’s acquisition of Minimalist is expected to contribute minimally to FY26 sales, pegged at under 1%.
Investec emphasized that visible triggers for improving revenue growth will determine future earnings, valuation, and stock performance.
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