JP Morgan stays overweight on HUL, sets Rs 2,550 target on stable demand, premiumisation push
JP Morgan reiterates bullish stance on Hindustan Unilever with Rs 2,550 target, implying 19.5% upside from Rs 2,192. Thesis rests on calibrated pricing, rural resilience, urban premiumisation, and scaling of liquids HPC, premium beauty and Foods. Margin band of 22.5-23.5% guided into FY27 despite ~10% input cost inflation.
JP Morgan maintains overweight on HUL with Rs 2,550 target, citing stable demand, calibrated pricing, rural resilience, urban premiumisation, and organisational restructuring. Growth vectors include liquids in HPC, premium beauty, and scaling Foods portfolio.