Buy Hindustan Unilever, target of Rs 280: Sharekhan
Sharekhan has maintained its buy rating on Hindustan Unilever with a price target of Rs 280 in its March 3, 2009 research report. “Hindustan Unilever Ltd (HUL) has completely outperformed the market in the past 12-14 months what with fast moving consumer goods (FMCG) being perceived as a defensive sector and safe haven for investment in turbulent times. The sector is considered so due to the strong inherent characteristics of the FMCG business that thrives on domestic consumption.
HUL, which enjoys the largest share of the Indian FMCG market, has grown very well backed by both urban and rural demand for its product basket. Though we believe the long-term outlook for the company remains intact, the following observations are worth pondering over in the near term. We maintain our estimates and Buy call on the stock, price target of Rs 280,” says Sharekhan’s research report.
Tags: calls, daytrading, free calls, intraday, tips
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