Sharekhan has maintained its buy rating on Hindustan Unilever with a price target of Rs 280 in its April 16, 2009 research report.
“We believe that though HUL will be one of the beneficiaries of the long-term consumption growth story of India, preventing the overall slowdown in the sales volume in the current macro environment is the challenge in the near term. We maintain our estimates for the January-March 2009 quarter and for FY2010 for now. We shall take a relook at the numbers after the quarterly results of the company. At the current market price the stock trades at 21.7x its FY2010E of Rs 11.0. We maintain our Buy recommendation on the stock with the price target of Rs 280,” says Sharekhan’s research report.
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