JP Morgan has maintained its ‘overweight’ rating on Hindustan Unilever (HUL) with a price target of Rs 2,550 per share. Over the medium-term, the brokerage firm expects low double-digit revenue growth the company.

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“We forecast a 17 percent earnings per share (EPS) compound annual growth rate (CAGR) over the 2021-23 fiscals,” JP Morgan said in a note.

It believes that the company’s revenue growth is ticking up and the price hikes are underway.

Earlier, the fast-moving consumer goods (FMCG) major, which manufactures Glow & Lovely and Dove among other skincare products, decided to eliminate the word ‘normal’ from advertising and packaging of all its beauty care products. It was part of the company’s efforts to demolish stereotypes.

In February, the company said that it would achieve 100 percent plastic waste collection from this year onwards. This means that the company will collect and process more plastic packaging waste than it uses.

(Edited by : Ankit Gohel)