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Hennes & Mauritz AB Class B

HM B: XSTO (SWE)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
SEK 648.00MlkMrfgvqjy

H&M Earnings: Solid Profitability Improvement Despite Weak Sales Trends, Shares Attractive

We are maintaining our fair value estimate for no-moat Hennes & Mauritz as the company reported declining sales but stronger profitability in the first quarter. After rallying 13% intraday, shares look slightly undervalued.

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