H&M: UBS still a seller; cuts target

(CercleFinance.com) - UBS has reinstated its "sell" rating on the H&M (Hennes & Mauritz) stock, having cut its corresponding target price from 110 Swedish kronor to105 Swedish kronor, which suggests 25% downside potential for the Swedish ready-to-wear clothing chain.


"H&M is fighting for relevance but we don't think it's close to turning yet as UBS Evidence Lab shows Q1 price cuts accelerating," the broker states in its report

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