H&M: UBS maintains 'sell' rating after flat quarterly sales
(CercleFinance.com) - UBS maintains its "sell" rating, along with its target price of 120 Swedish kronor for the H&M stock, after the budget fashion retailer reported flat second-quarter sales.
Focus is now on inventory, stock and brand repositioning, the Swiss broker said in a research note.
"Another tough quarter for H&M, with further risk of gross margin pressure and opex deleverage," UBS wrote in a note.
"Inventory clearance is still a major priority," it added.
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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.
Focus is now on inventory, stock and brand repositioning, the Swiss broker said in a research note.
"Another tough quarter for H&M, with further risk of gross margin pressure and opex deleverage," UBS wrote in a note.
"Inventory clearance is still a major priority," it added.
Copyright (c) 2018 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.