- (PLX AI) - H&M post-pandemic sales recovery has been disappointing, analysts at Carnegie said, adopting a more cautious view on the company.
- • Price target cut to SEK 160 from SEK 175, with recommendation unchanged at hold
- • Q4 sales are likely to be in line with the same quarter in 2019, as pent-up demand for fashion doesn't seem to have materialized, Carnegie said
- • Meanwhile, cost inflation could slow the earnings recovery next year: Carnegie
- • H&M showed great cost control during the pandemic, but now the potential margin recovery is clouded and the company may choose to prioritize growth over margins while valuation remains at a premium to peers, Carnegie said