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Deutsche Bank ups HUL from 'neutral' to 'buy'

By Religare

Deutsche Bank has upgraded the country's consumer goods giant, Hindustan Unilever Ltd. from 'neutral' to 'buy' citing the prospect of increase in prices of personal products after recent muted price hikes.

While already factoring in the negative impact from the company's recent royalty payment increases, Deutsche Bank has also raised the company's target price from Rs 500 to Rs 530.

This move from Deutsche Bank comes after UBS upgraded Hindustan Unilever from 'neutral' to 'buy' last week, citing expectations of a "strong" business outlook and the prospect of rising volumes for its products.

Read more about: hindustan unilever
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