Sales were “reasonably strong” in the fourth quarter, Macquarie notes, as consumer demand after the depths of the lockdown exceeded expectations.
The company has indicated FY21 has started strongly, albeit it is early days, and the broker expects a resumption of the dividend, certainly in the first half of FY21.
Outperform rating maintained. Target is 75c.
Sector: Consumer Durables & Apparel.
Target price is $0.75.Current Price is $0.33. Difference: $0.42 – (brackets indicate current price is over target). If MHJ meets the Macquarie target it will return approximately 56% (excluding dividends, fees and charges – negative figures indicate an expected loss).
