Hennes & Mauritz AB Class B

HM B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 149.00	Tbvv	Rfrbfxyj

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

Jelena Sokolova

Mar 27, 2024

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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