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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