HUL shares jump 9% after Jefferies double upgrades to buy—check out Hindustan Unilever share price target

Hindustan Unilever share price, HUL share price target: Hindustan Unilever (HUL) shares jumped on Wednesday, June 5 after global brokerage Jefferies double-upgraded the FMCG major to buy from hold. Hindustan Unilever shares jumped nearly nine per cent to the day's high of Rs 2,723.95 on NSE in early morning deals. The counter closed at Rs 2,603.4, up 4.29 per cent on NSE. 

HUL share price target: Should you buy, sell or hold?

Jefferies has double-graded the FMCG stock to buy from hold. The brokerage has raised the target to Rs 2,950 from Rs 2,530. Jefferies in its note stated that HUL offers a good proxy to participate in the likely uptick in rural. 

The stock underperformed in the last 5 years. The valuation is near five-year average, it said. The brokerage has upgraded EPS estimates by 1-3% and upgraded HUL to BUY with a PT of Rs 2,950. The brokerage added that FY25 growth should pick up ahead.

HUL Q4 results: How did Hindustan Unilever fare in March quarter?

HUL reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter of FY24 on account of deflation due to softening of commodity prices.

The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.

While HUL's total expenses were up 1.15 per cent to Rs 12,100 crore in the March quarter from Rs 11,962 crore a year ago. The total income of HUL during the fourth quarter of the previous fiscal was flat at Rs 15,441 crore as against Rs 15,375 crore a year ago. Read more

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