H&M: Jefferies still on hold
(CercleFinance.com) - Based on Q3 results, Jefferies expects a recovery in the group's margins over the medium term.
The broker recommends investors hold their shares, having set a target price of 155 Swedish kronor.
While H&M forecasts re-tax profit of 2 billion Swedish kronor in Q3, Jefferies has revised its earnings estimates, now expecting its gross margin to fall in Q3.
Note that the H&M share is having a bumpy ride on Monday, down almost 4% at just under 152 euros in mid-afternoon trading.
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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 broker recommends investors hold their shares, having set a target price of 155 Swedish kronor.
While H&M forecasts re-tax profit of 2 billion Swedish kronor in Q3, Jefferies has revised its earnings estimates, now expecting its gross margin to fall in Q3.
Note that the H&M share is having a bumpy ride on Monday, down almost 4% at just under 152 euros in mid-afternoon trading.
Copyright (c) 2020 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.