Motilal Oswal has given Buy recommendation for Hindustan Unilever recommended buy rating on the stock with a target price of Rs 3280 in its research repo with a target price of Rs. 3280 in its research report issued on Sep 21, 2021

Motilal Oswal’s research report on Hindustan Unilever

As the number of COVID-19 cases started to reduce, mobility improved, restrictions were progressively lifted, stores remained open for a longer time, and modern trade (MT) reopened in a phased manner. Demand in Jul-Aug’21 has been better than that in Jun’21. General trade (GT) remains resilient, while MT has improved. However, MT is still not back to its Aug’19 levels owing to lower ‘Big Day’ sales. Rural markets continue to remain resilient on the back of a strong Rabi crop, good Kharif sowing, and monsoons ahead of its long period average. Rural resilience is expected to continue. Urban markets have seen an uptick in momentum.

Outlook

We maintain our Buy rating with a TP of INR3,280 per share.

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