H&M: Invest Securities still a seller, but raises TP

(CercleFinance.com) - Invest Securities retains a "sell" recommendation on the H&M share, while raising its corresponding target price from 107 Swedish kronor to 125 Swedish kronor, following a preliminary estimate of Q3 revenues that was slightly below the consensus.


The surprise, which however provoked a very jump in the share price (+10.8%) comes from an indication of pre-tax profit that is well above expectations over the quarter, at 2 billion Swedish kronor, the analyst points out.

This is good news that the group attributes to the success of its clothing collections and to cost control, although we will have to wait for the publication of the final results on 1 October to break it down, Invest Securities warns.


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