(News Bulletin 247) – Bank of America raised its recommendation on H&M stock on Monday, from ‘underperformance’ to ‘buy’, with a new price target of 165 Swedish crowns, against 90 crowns until now, implying a potential upside of 30%.
In a research note, the design office stresses that the clothing group is set to benefit from the reduction in the headwinds that have hit its business so far, but also from the efficiency measures taken in terms of costs. .
According to BofA, this configuration could lead to a faster than expected recovery in the results of the ready-to-wear specialist,
For the analyst, the analyst consensus is indeed too unambitious for 2023, the largely unfavorable market positioning and the undemanding stock market valuation.
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