Equity Valuation is both a science and an art, whoever looks at it from only one
perspective might very well miss it half of the times. This Dissertation will cover both
dimensions on the literature review and valuation exercise respectively. On the
aftermath, a target price of SEK 246 and a NEUTRAL investment recommendation
were attributed to the Swedish worldwide apparel retailer – H&M. Ultimately, these
results were compared to BoAML report from 09/26/2013, highlighting structural
differences on the investment cases
