Here’s what brokerages are saying about Hindustan Unilever (HUL):
- JPMorgan: JPMorgan has maintained its overweight rating on HUL but cut the target price to ₹2,870, implying a 7.9% upside from the current market price (CMP) of ₹2,659.35. The brokerage noted that while pricing and market share strengthened, urban demand is slowing. It also cut its FY25-26 EPS by 3% due to moderated revenue forecasts.
- Morgan Stanley: Morgan Stanley has maintained its underweight rating on HUL, with a share price target of ₹2,110, implying a 20.6% downside from the CMP. The company’s Q2 volume growth of 3% was below estimates, and Morgan Stanley highlighted concerns in the personal care and foods & refreshments segments, projecting limited price growth in Q3.
- Jefferies: Jefferies has maintained a buy rating with a target of ₹3,130, indicating a 17.7% upside from the CMP. Jefferies noted that HUL’s Q2 results were in line, with underlying volume growth (UVG) of 3% year-on-year. While rural recovery continued, urban demand saw moderation. Strong performance in home care offset weaker results in personal care and foods.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a qualified financial advisor before making any investment decisions.
