(CercleFinance.com) – Barclays reaffirms its ‘overweight’ advice and its price target of 200 Swedish crowns on H&M, showing its confidence as the publication of the ready-to-wear chain’s third quarter results approaches accountant, September 27.
‘We expect these results to be more resilient than recent weak sales growth would suggest, while merchandise inventory will also likely decline further,’ the broker predicts.
Barclays considers that negative news flow is already largely priced into current share price levels. However, it indicates that it is slightly lowering its EPS assumptions for the Swedish group.
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