Hennes & Mauritz AB Class B

HM B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 674.00	Jnxcg	Bfjsjcb

H&M Earnings: Less Cost Pressures in H2, Better Stock Turns, Sales Trends Offset Current Weakness

Jelena Sokolova

Jun 29, 2023

We are maintaining our fair value estimate for no-moat H&M at SEK 190 per share after the company reported a rather challenged second quarter but with some signs of optimism. After an 18% rally during the day, shares look fairly valued.

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