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MYR - Citi rates the stock as Sell
BY BROKER NEWS - 15/05/2018 | VIEW MORE BROKER UPDATES

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MYR - MYER HOLDINGS LIMITED


The broker is forecasting a -4.9% year on year decline when Myer reports March Q sales this week. Kmart ((WES)) and Big W ((WOW)) have both been investing in price recently and disinflationary pressure is weighing on the broader department store sector, the broker notes.

A warm start to winter won't have helped either. A strategy realignment is expected when the new CEO takes over but in the meantime Myer is in danger of breaching debt covenants. Sell and 41c target retained.

Sector: Retailing.

Target price is $0.41.Current Price is $0.38. Difference: $0.03 - (brackets indicate current price is over target). If MYR meets the Citi target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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