H&M: Barclays reduces target price
(CercleFinance.com) - Barclays confirms its 'overweight' rating on H&M (Hennes & Mauritz) shares, while lowering its target price from 190 SEK to 175 SEK, explaining that it expects the ready-to-wear chain to report a difficult Q3.
While we expect sales growth to improve in July-August after a very weak start in June, this will not be enough to offset the headwinds facing H&M, the broker says, which expects both its gross and EBIT margins to fall.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
While we expect sales growth to improve in July-August after a very weak start in June, this will not be enough to offset the headwinds facing H&M, the broker says, which expects both its gross and EBIT margins to fall.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.