New Delhi, Sept. 6 -- Brokerage firm Nuvama Institutional Equities has given a 'buy' call on Hindustan Unilever share price, with a target price of Rs.2,820 per share.

The brokerage firm said that the company expects medium-term EBITDA margin guidance in the range of 22-24% and aims to generate 500bp of savings through premium mix improvement, operating leverage, the Future Savings Lab (100bp savings) and AI-led media effectiveness (10% improvement).

The firm further said that incremental revenue growth is expected to be driven by 40% from consumption and premiumisation, 40% from market making and the remaining 20% from new spaces.

"Capex is planned to increase from 2% to 3% of sales over the medium term. The share of capex allocated t...