H&M: UBS cuts target price

(CercleFinance.com) - On Monday UBS cut its target price for H&M shares to 119 Swedish kronor from 129 Swedish kronor, after the company reported "disappointing" quarterly results at the end of September.


The broker - which maintains a "neutral" rating on the stock - says that it has reduced its earnings estimates for the clothing group, with it still seeing a number of risks for 2023.

"With consumer outlook remaining challenging especially in Europe, we expect sales and margins to remain under pressure into Q4 and going into next year", UBS says.


Copyright (c) 2022 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.