Analysts’picks: HUL
CMP: Rs 232.90 Target price: Rs 278 CLSA has assigned an ‘outperform’ rating to fast-moving consumer goods firm HUL, citing attractive valuations as the key reason. HUL’s 2-6-percentage points market share loss across categories is worrisome. However, our analysis highlights that the share loss has been largely restricted to the lower end.
The HUL management has already taken several price reductions and advertising & promotion (A&P) support will arrest the market share loss,” a CLSA note to clients said. “We believe that the management action will revive volume growth and market share trend in 2HCY09 (July-December).
Upcoming results may disappoint the market on volume growth, but a potential correction will be a buying opportunity, as valuation support will kick-in,” the CLSA note added.
source: Business-Standard
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