H&M: UBS maintains 'sell' rating after flat quarterly sales

(CercleFinance.com) - UBS maintains its "sell" rating, along with its target price of 120 Swedish kronor for the H&M stock, after the budget fashion retailer reported flat second-quarter sales.


Focus is now on inventory, stock and brand repositioning, the Swiss broker said in a research note.

"Another tough quarter for H&M, with further risk of gross margin pressure and opex deleverage," UBS wrote in a note.

"Inventory clearance is still a major priority," it added.

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