Morningstar maintains fair value estimate for Australia's Myer Holdings

Myer Holdings

14/03/2024 18:57

** Analysts at Morningstar say Australian retailer Myer
Holdings  MYR.AX  had solid start to H2 2024, but their
short-term consumer outlook remains weak
    ** Brokerage sees consumer demand to be "soft" for
discretionary products like apparel in near term for co
    ** Forecasts sales to decline 2% in H2 2024 vs 3% sales
decline in H1 2024
    ** Maintains fair value estimate at A$0.75 
    ** Brokerage, however, increases FY24 EPS estimate by 8% to
A$0.06/shr 
    ** Stock up 42.5% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))