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Investing.com - BofA Securities upgraded Godrej Consumer Products (NSE:GOCP) Ltd. (GCPL:IN) from Neutral to Buy with a price target of INR1,315.00, citing favorable risk-reward following recent stock correction.
The stock has fallen approximately 22% from its peak in September 2024 and about 8% from recent highs around fourth-quarter results, according to BofA Securities. The firm maintained its price objective and earnings estimates while noting improving business trends reflected in the first-quarter trading update.
BofA expects growth acceleration to become more evident in the second half of fiscal year 2026, supported by a benign base and emerging commodity tailwinds. The firm highlighted that a 20% correction in PFAD (Palm Fatty Acid Distillate) should positively impact earnings and competitive dynamics in the second half.
The investment bank views Godrej Consumer as a beneficiary of portfolio reshaping efforts, with approximately one-third of its India business now coming from non-soaps and non-home insecticide categories that are growing in strong double digits, particularly liquid detergents and sexual wellness products.
BofA Securities projects Godrej Consumer will achieve consolidated revenue and EPS CAGR of 9% and 17% respectively over FY25-28E, which it considers better than the sector average, while noting mixed overseas trends with potential competitive challenges in Indonesia offset by positive restructuring results in Africa.
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