Sharekhan is bullish on Hindustan Unilever has recommended buy rating on the stock with a target price of Rs 1990 in its research report dated May 03, 2019.
Sharekhan's research report on Hindustan Unilever
For the quarter, revenue grew by 9.3% y-o-y with a volume growth of 7% led by innovations and better revenue mix. Gross margin stood at 53.9% and operating profit grew by 13.3% y-o-y, with OPM standing at 23.3%. Domestic business volume growth will stand at high single digit in the coming quarters; margin expansion would sustain. We have marginally reduced our earnings estimates by 2.3%/1.6% for FY2020/21 to factor in lower than earlier expected revenue growth.
Outlook
We maintain our Buy recommendation on the stock with a revised price target of Rs1990 (in-line with reduction of FY2021E estimates).
For all recommendations report, click here
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