H&M: UBS raises target price
(CercleFinance.com) - UBS maintains its Neutral rating on H&M shares, while raising its target price for them from E119 to E143.
The analyst notes "Tentative turnaround signs but heavy lifting ahead".
"Our detailed bridge suggests HMB can improve EBIT margin to 7.5% by FY24e - but short of company's 10% target as sales density remains a structural issue," the broker said.
The group has confirmed that it expects to achieve a 10% operating margin as early as next year.
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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 analyst notes "Tentative turnaround signs but heavy lifting ahead".
"Our detailed bridge suggests HMB can improve EBIT margin to 7.5% by FY24e - but short of company's 10% target as sales density remains a structural issue," the broker said.
The group has confirmed that it expects to achieve a 10% operating margin as early as next year.
Copyright (c) 2023 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.