Handelsbanken cuts H&M to 'hold' on slow sales
BUZZ-Handelsbanken cuts H&M to 'hold' on slow sales ** Handelsbanken downgrades Swedish fashion retailer H & M HMb.ST to "hold" from "buy", citing slow sales growth and lack of near-term positive triggers
** The brokerage notes the share price has surged significantly since last summer and now trades close to its 12-month PT of SEK 190
** It anticipates slower earnings growth and "less support from external and internal factors"
** Handelsbanken trims its earnings estimates for 2026-2028 by up to 3%, citing slightly higher assumptions for costs related to new technology investments
** It maintains its view that the founding Persson family could eventually take the retailer private, saying a "delisting by 2030 is still possible"
** Out of 28 analysts that cover the stock, two rate it "strong buy" or "buy", 14 "hold", and 12 "sell" or "strong sell", according to LSEG data
(Reporting by Marta Frackowiak)
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