Myer Bulls Still Expect Eventual Turnaround -- Market Talk
Dow Jones
Sep 24, 2025
0028 GMT - Myer's bulls at Morgan Stanley believe the company has the building blocks in place for a turnaround, albeit one that will take longer than previously anticipated. MS analysts assume that the Australian department-store operator's positive sales momentum will continue through FY 2026, but also forecast costs at the top end of company guidance. As a result, they cut their FY 2026 earnings forecast by about 35%. They don't expect any meaningful improvement in costs as a percentage of sales until at least the second half of the fiscal year. MS cuts its target price 23% to A$0.77. Shares are flat at A$0.48. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
September 23, 2025 20:28 ET (00:28 GMT)
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