MYER HOLDINGS LIMITED (MYR)
Share Price Analysis and Chart

12/02/2025

2

Accumulate

$0.95

15.85%

Following the acquisition of the Apparel Brands assets from Solomon Lew’s Premier Investments ((PMV)), Ord Minnett has an Accumulate rating and 95c target price on Myer.

The analyst reckons revenue benefits from M&A transactions have historically proved hard to come by and are therefore not included in the modeling. 

Cost benefits are easier to quantify and achieve, and the broker estimates Myer could benefit $39–59m over a three-year horizon, including rent savings from overlapping stores and reduced sourcing costs.

On balance, the broker sees value on offer in Myer but also cautions investors will need to be comfortable with the risks inherent in trying to integrate two large retail businesses in a difficult, albeit improving, trading environment.

22/01/2025

1

Buy

$1.15

40.24%

Canaccod Genuity believes the -3% miss at the gross profit level revealed in Myer Holdings' trading update can be countered in future periods.

The broker notes Premier Investments' ((PMV)) trading update showed lower earnings are driven more by operating cost pressures and weaker sales performance.

The broker believes the update is a step back in the narrative but it won't derail the upcoming merger process (the shareholder vote is due January 23).

The target price is lowered to $1.15 from $1.25. Buy rating remains.

FORECAST
Canaccord Genuity forecasts a full year FY24 dividend of 4.00 cents and EPS of 6.20 cents.
Canaccord Genuity forecasts a full year FY25 dividend of 3.00 cents and EPS of 5.20 cents.