Macquarie upgrades Hindustan Unileverhttps://indianexpress.com/article/news-archive/web/macquarie-upgrades-hindustan-unilever/

Macquarie upgrades Hindustan Unilever

Macquarie upgraded HuL to Outperform from Underperform,and raised its target price.

Macquarie upgraded India’s Hindustan Unilever to Outperform from Underperform,and raised its target price to 600 rupees from 340 rupees.

The brokerage says the consumer goods maker will benefit from growth in emerging categories,consumers trading up,its innovation pipeline and improved market and cost competitiveness.

Macquarie says Hindustan Unilever’s decade of underachievement is behind us,and says the company’s agility and resilience in both consumer and competitive responses have improved notably under present leadership.

Hindustan Unilever shares last down 1 percent to 423.75 rupees.