H&M stock: UBS cuts target for H&M stock to SEK 163.00

Published on 10/20/2026 at 16:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nine-month 2026 margin reached 8.3 percent. H&M stock costs EUR 15.58 on October 20, 2026, up 0.78 percent versus the Xetra close.

Analyst target and reporting date

UBS cut its H&M target from SEK 168.00 to SEK 163.00 on September 29, 2026.
H&M's nine-month operating margin rose to 8.30 percent from 7.10 percent.
H&M stock costs EUR 15.58 at Lang & Schwarz on October 20, 2026 at 4:30 p.m. CEST, 0.78 percent above the October 19, 2026 Xetra close.
H&M is scheduled to publish its full-year report on January 28, 2027.

H & M Hennes & Mauritz AB, SE0000106270, Illustration mit AI erstellt.

UBS cut its price target for H&M from SEK 168.00 to SEK 163.00 and retained a Neutral rating on September 29, 2026, according to MarketScreener. The lower target sits 5.80 percent below H&M's Nasdaq Stockholm closing price of SEK 172.45 on October 19, 2026. At Lang & Schwarz, H&M stock was trading at EUR 15.58 on October 20, 2026 at 4:30 p.m. CEST, up 0.78 percent versus the Xetra close of October 19, 2026 at EUR 15.46.

Margins improved despite lower sales

H&M's latest reported period points to a sharper split between sales and profitability. In the nine months ended August 31, 2026, net sales fell to SEK 161,624 million from SEK 169,064 million, while operating profit increased to SEK 13,462 million from SEK 12,031 million. The operating margin therefore rose to 8.30 percent from 7.10 percent, according to the H&M Group report dated September 24, 2026. Operating cash flow increased 17.00 percent to SEK 26,524 million from SEK 22,714 million in the same period.

Stock sits below its yearly high

The Lang & Schwarz price is 14.77 percent below the 52-week high of EUR 18.28 and 13.72 percent above the 52-week low of EUR 13.70, with both levels dated October 20, 2026. H&M's market capitalization was EUR 24.7 billion on the same date, while its price-to-earnings ratio was 20.84. For comparison, Industria de Diseño Textil traded at EUR 56.20 on October 20, 2026, with a price-to-earnings ratio of 27.40 and a market capitalization of EUR 175.1 billion.

What comes next for H&M?

The next scheduled reporting date is January 28, 2027, when H&M is due to publish its full-year report for the period ending November 30, 2026, according to the H&M Group financial calendar. The company also lists an annual general meeting for May 5, 2027. The next report will show whether the margin improvement can continue after the nine-month period included a positive one-time effect of 1.60 percentage points linked to tariffs and goods imports.

H&M stock and the next report

UBS's reduced target and Neutral rating leave the analyst view below the latest Stockholm close, while H&M's reported margin improved by 1.20 percentage points year over year. The contrast gives investors two measurable reference points before the January report: valuation and operating efficiency.

H&M stock was trading at EUR 15.58 at Lang & Schwarz on October 20, 2026 at 4:30 p.m. CEST, 0.78 percent above the Xetra close of October 19, 2026 at EUR 15.46. The further course of trading is shown by the continuously updated real-time quote of H&M stock.