Neutral HUL, target Rs 925: JP Morgan

JPMorgan maintains a neutral rating on HUL and has also raised its target price to Rs 925 from Rs 865 earlier. The return of pricing growth augurs well for revenue growth revival in FY17, said the JPMorgan note.

The volume trends are likely to remain soft over 1H and there is further scope for margin improvement led by better pricing, and product mix.

GST remains a medium term positive too. HUL is a quality franchise for Long Term holders matched with premium valuations, said the CLSA note.