H&M: UBS cuts target after new CEO

(CercleFinance.com) - While maintaining its 'neutral' rating on the stock, UBS has significantly reduced its target price for H&M (Hennes & Mauritz) from 187 SEK to 148 SEK, following last week's announcement of a change of CEO.


"The new CEO Daniel Erver inherits the same old questions on sales growth and profitability; we expect to see his thoughts in the coming months", the broker says about the Swedish clothing chain.


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