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Deutsche Bank upgrades Hindustan Unilever to 'buy', raises target price

Deutsche Bank upgrades Hindustan Unilever to 'buy', raises target price

Deutsche Bank cited strong investments in distribution, input cost correction and low-unit-packs of Hindustan Unilever as key reasons for the upgrade.

Abhishek Vishnoi
  • Mumbai,
  • Updated Jan 6, 2015 1:19 PM IST
Deutsche Bank upgrades Hindustan Unilever to 'buy', raises target price(Photo: Reuters)

Deutsche Bank on Tuesday upgraded Hindustan Unilever (HUL) to "buy" from "hold" and raised the target price from Rs 700 to Rs 900.

The global financial services major cited strong investments in distribution, input cost correction and low-unit-packs as key reasons for the upgrade.

Traders said the HUL stock may gain amid risk aversion and as it is a non-consensus rating upgrade.

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Deutsche Bank said, investment in distribution over the last 3-5 years has increased gap over competition.

The German bank added that likely weak third-quarter results of HUL would be a buying opportunity.

(Reuters)

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jan 6, 2015 1:15 PM IST
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