Brokerages remain largely bullish on Hindustan Unilever (HUL) after the FMCG major reported strong revenue and volume growth in the fiscal second quarter, although persistent commodity inflation and pressure on operating margins remain concerns. UBS, Jefferies and HSBC have retained their Buy recommendations, while Morgan Stanley has maintained an Equal-weight rating.
UBS has the highest price target of Rs 2,700, implying nearly 49 percent upside from HUL's Wednesday closing price of Rs 1,815.80. Morgan Stanley has a target of Rs 2,480, followed by Jefferies at Rs 2,350 and HSBC at Rs 2,220.
HUL shares ended 0.12 percent lower on Wednesday, following the announcement of its Q2 FY27 results. The stock has declined 21.8 percent so far in 2026, compared with a 13.2 percent fall in the Nifty 50. The company's market capitalisation stood at Rs 4.27 lakh crore.
Share Markets Live Updates | Sensex, Nifty, GIFT Nifty Today
UBS highlighted HUL's strong quarterly performance, with revenue rising 14.8 percent year-on-year and underlying volume growth of 7 percent beating estimates. Home Care revenue grew 22 percent, while Beauty & Wellbeing sales increased 16 percent. The brokerage also noted that EBITDA and profit after tax rose 8 percent and 8.7 percent, respectively, reflecting an overall strong performance.