Following a review of late February’s 1H results for MyDeal.com.au, Morgans increases its earnings (EBITDA) loss forecasts. As a result the target price falls to $0.60 from $0.90 and the rating is lowered to Hold from Add.
The broker feels there may be a lack of catalysts from future sales updates, given management has set a gross sales target of $500m by FY25. This is the same year management expects earnings profitability, a year later than the analyst had predicted.
Sector: Retailing.
Target price is $0.60.Current Price is $0.63. Difference: ($0.03) – (brackets indicate current price is over target). If MYD meets the Morgans target it will return approximately -5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
