Australia's Myer Holdings slumps, Morgan Stanley cuts PT ahead of results drop

Myer Holdings

18/09/2025 03:42

** Shares of Myer Holdings MYR.AX fall as much as 1.5% to A$0.645
** Fall in line with the broader market decline; benchmark S&P/ASX 200 .AXJO down 0.7% .AX
** Morgan Stanley cuts price target for shares of the department store operator to A$1.00 from A$1.05, rated "Overweight"
** Brokerage expects FY25 results to be impacted by tough trading conditions amid supply chain issues, and upfront investment ahead of its strategy reset

** 2 of 4 analysts rated "Buy" on stock; the other half rated "Hold", median PT is A$0.93, as per LSEG-compiled data
** YTD, shares down 46.2%

(Reporting by Nichiket Sunil in Bengaluru)

((nichiket.sunil@thomsonreuters.com))