H&M: BofA double upgrades stock

(CercleFinance.com) - On Monday Bank of America upgraded its raring on H&M shares directly to "buy" (from "underperform"), adopting a new target price of 165 Swedish kronor, almost double the 90 SEK until now, implying a upside potential of 30%.


In a report, the broker points out that the clothing group is set to benefit from the easing of the headwinds that have been blowing through its business so far, as well as from cost efficiency measures taken.

According to BofA, this could lead to a faster-than-expected turnaround in the apparel specialist's results,


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