Need FMCG stock ideas? Here’s how Macquarie views HUL, Marico, Britannia

By Ankur Gupta

Ankur Gupta

Apr 04,2024

As investors and analysts await the onset of a new earnings season, Macquarie has reduced its targets for three FMCG stocks by 4-7 per cent. Here’s what the foreign brokerage has said.

Macquarie on Indian consumer space

The brokerage expects incumbents in the market fighting back to boost their digital ad spends and online sales.

Gap between incumbents & digital first brands has moderated: Macquarie

The digital disruption index ranks premium skincare and haircare categories at a high risk of disruption owing to digital-first rivals’ strong online presence, according to the brokerage.

Macquarie maintains ‘outperform’ on HUL

The brokerage reduced its target price for the FMCG giant to Rs 2,850 per share from Rs 3,000.

Macquarie retains ‘outperform’ on Marico

The brokerage reduced its target price for the Marico stock to Rs 600 per share from Rs 625.

Macquarie maintains ‘neutral’ on Britannia

The brokerage has reduced its target price for the Britannia Industries stock to Rs 4,500 from Rs 4,650.