Buy Hindustan Unilever; target of Rs 1304: HDFC Securities
HDFC Securities is bullish on Hindustan Unilever has recommended buy rating on the stock with a target price of Rs 1304 in its research report dated July 19, 2017.
July 24, 2017 / 01:38 PM IST
HDFC Securities' research report on Hindustan Unilever
HUL’s 1Q numbers came in better than expectations, despite channel destocking pressure. HUL’s net revenue was up 5% YoY at Rs 85.3bn (1% expectation). The domestic consumer business registered healthy 6% growth, with flat UVG (-1% expectation). EBITDA and APAT were up 14% and 15% respectively.
Stable raw material prices with healthy premium segment growth can help expand margins in the coming quarters. We expect the stock to give healthy returns in the near term.
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