Australia's Premier Investments gains; MS positive on growth prospects

Myer Holdings

04/02/2025 02:15

** Shares of Australia's Premier Investments  PMV.AX  gain
3.6% to A$24.52; their highest since Jan. 10
    ** Analysts at Morgan Stanley say the risk/reward scenario
is compelling for the firm based on a mix of high quality
consumer brands, with multiple growth levers and capital
management options
    ** Interest rate cuts also provide earnings upside risk for
PMV - Brokerage
    ** MS likes co's Peter Alexander and Smiggle brands given
they offer differentiated value propositions in niche
categories, backed by innovation and branding
    ** PMV recently merged its Apparel brands with peer Myer
 MYR.AX , brokerage lowers PT to A$32 from A$37.5 on account of
removing the Apparel brands
    ** PMV up 0.3% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))