H & M Hennes & Mauritz AB Class B

HM B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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H&M: Reducing Our Fair Value Estimate to SEK 158 on Slower Growth and Profitability Progression

Jelena Sokolova

May 20, 2025

We are reducing our fair value estimate for H&M to SEK 158 from SEK 190 as we lower our expectations for midterm growth and profitability recovery. We see shares as fairly valued.

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H & M Hennes & Mauritz AB Class B

H&M: Reducing Our Fair Value Estimate to SEK 158 on Slower Growth and Profitability Progression

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