UBS upgrades India’s Hindustan Unilever Ltd shares citing ‘strong’ outlook

UBS raised its target price to 540 rupees from 500 rupees.

• Written by Reuters
• Mumbai | March 20, 2013 09:19 AM IST
1 min read

UBS upgraded India’s Hindustan Unilever Ltd (Erstwhile Hindustan Lever Ltd) Shares to “buy” from “neutral” and raised its target price to 540 rupees from 500 rupees,citing expectations for a “strong” business outlook and the prospect of rising volumes for its products.

“HUL’s brand ladder pricing,category depth,and geographical breadth provide its business with levers to reaccelerate once macro headwinds are behind,” UBS said in a note dated Wednesday.

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