H&M’s Price Target Finds a FloorAt Least Until Next Results
- Fluctuations in analyst share-price estimates flattened out
- More adjustments ahead if H&M misses estimates, says Nordnet
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The past six months have been a period of relative calm for the average price target for Hennes & Mauritz AB. It may not stay that way for long if the Swedish clothing retailer fails to show a turnaround this fall.
“I don’t think we’re necessarily done at current levels,” Joakim Bornold, an investment adviser at Nordnet AB, said by email. “H&M will probably miss its targets significantly also this year and will find it difficult to defend their forecasts going forward. If there is no significant turnaround during the autumn, I think we’ll see further adjustments to the share-price estimate.”