UBS upgrades India's Hindustan Unilever Ltd shares citing 'strong' outlook
Reuters: Mumbai, Mar 20 2013, 09:19 IST
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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