By Ankur Gupta
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.
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.