H&M: Barclays confident ahead of Q3 results
(CercleFinance.com) - Barclays maintains its "overweight" rating on H&M shares, along with its target price of 200 SEK, confident ahead of the ready-to-wear chain's Q3 results on 27 September.
"We expect H&M results (due on 27 Sept.) will be more resilient than recent weak top line growth might suggest, while stock-in-trade will also likely decline further", the broker predicts.
Barclays considers that the negative news flow is already largely priced in. Nevertheless, it has trimmed its EPS assumptions for the Swedish group.
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