Myer Bull Sees Cost Control Building Stronger Foundations -- Market Talk

Dow Jones03-25 09:39

0139 GMT - Myer's bull at Canaccord Genuity says the department-store operator's foundations look stronger now that it has its costs under control. Analyst Allan Franklin relays to investors the company's observation that it's been working for some time in a tough consumer environment, with management seemingly confident in the near-term trajectory. He concedes in a note that December and January trading was softer than some had expected, and lowers his forecasts on the expectation of increased promotional activity. However, he keeps a buy rating on the stock. Target price falls 7.6% to A$0.73. Shares are up 5.2% at A$0.305. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 24, 2026 21:39 ET (01:39 GMT)

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