Sep 25, 2017 06:28 PM IST | Source: Moneycontrol.com
Godrej Consumer Products gains 2% after Credit Suisse upgrades to outperform
The research house feels Godrej will regain its position as the fastest growing company in India on the back of best innovation pipeline.
Moneycontrol News
Godrej Consumer Products share price ended at Rs 932.50, up 1.94 percent on Monday after global research firm Credit Suisse had upgraded the stock to outperform from neutral.
It also increased target price for the stock to Rs 1,100 per share from Rs 1,000, saying there is a strong revival as innovation momentum is intact.
The research house feels Godrej will regain its position as the fastest growing company in India on the back of best innovation pipeline.
It expects strong bounce back in Q2FY18.
FY18 has seen ramping up of new products and entry into new categories despite multiple headwinds, Credit Suisse said.
It further said competitive intensity in Indonesia is eased and there is no further earnings cut.
