H&M: UBS still a buyer
(CercleFinance.com) - H&M (Hennes & Mauritz) published its Q1 sales and results in mid-March.
The Scandinavian fashion chain's net sales rose 23% to almost 49.2 billion Swedish kronor (+18% in local currencies), while its gross margin improved by 1.7% to 49.3%.
Profit after tax rose to 217 million Swedish kronor in Q1, compared with a loss of 1.07 billion Swedish kronor a year ago.
The broker confirms its buy rating on the stock with a target price of 210 Swedish kronor.
Copyright (c) 2022 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.