H&M: Invest Securities adjusts target price
(CercleFinance.com) - Yesterday, Swedish clothes retailer H&M published detailed Q3 results.
Following this publication, analysts raised their target price for the share by 5 Swedish kronor to 130 Swedish kronor, although maintain their sell rating on the stock (current price: 164 Swedish kronor).
As was the case when preliminary results were published, the market welcomed (+6.0%) better- than-expected results, thanks to strict cost control, which came as a surprise, Invest Securities said.
The broker adds that it is incorporating these details, which leads to a significant (+19.8%) increase in EPS estimates.
Copyright (c) 2020 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.
Following this publication, analysts raised their target price for the share by 5 Swedish kronor to 130 Swedish kronor, although maintain their sell rating on the stock (current price: 164 Swedish kronor).
As was the case when preliminary results were published, the market welcomed (+6.0%) better- than-expected results, thanks to strict cost control, which came as a surprise, Invest Securities said.
The broker adds that it is incorporating these details, which leads to a significant (+19.8%) increase in EPS estimates.
Copyright (c) 2020 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.