Neutral Dabur India, target Rs 325: Nomura

Nomura downgrades Dabur India to neutral from buy but raised its 12-month target price to Rs 325 from Rs 306 earlier as all the positives seems to be priced in.

Nomura continues to believe in the long-term story of India. The foods business recovery is in place. The company is a key play on rural consumption and naturals theme.

The stock is trading at 37.6x FY17F and 32.6x FY18F EPS, which are above its long term averages. The global brokerage firm advise investors to switch to Emami, or HUL.