Sharekhan has given Buy recommendation for Hindustan Unilever Ltd with a target price of Rs. 3185 in its research report issued on Oct 20, 2021
HUL’s Q2 performance was in-line with our as well as street’s expectation. With a strong brand portfolio, strong team with a great focus supported by R&D, and agile distribution and supply chain, HUL’s management is focusing on enhancing the shareholder’s value in the next decade. The stock has corrected by ~11% from its recent high and is currently trading at 53x and 45x its FY2023 and FY2024 earnings, respectively, factoring in near-term headwinds. We maintain our Buy recommendation on the stock with an unchanged PT of Rs. 3,185.