MYER HOLDINGS LIMITED (MYR)
Share Price Analysis and Chart

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26/03/2026

3

Hold

$0.32

23.08%

Myer's first-half result missed Ord Minnett's expectations, with weaker sales growth and margin pressure driven by mix and promotional activity.

Based on the result, and due to a new analyst's view, the 12-month price target is slashed to 32c from 67c and the Hold rating is retained.

Sales growth in the first seven weeks of the second half slowed to 1.7%, down from 2.1% in the first half. The broker explains this reflects a -0.4% decline in Apparel Brands sales, partially offset by 2.2% growth in Myer retail.

Commentary notes management is executing well and potential exists for margin recovery as clearance activity ends, though structural industry challenges and macro pressures persist.

03/06/2026

1

Buy

$0.63

142.31%

Canaccord Genuity maintains a Buy recommendation for Myer with its target price decreased to $0.63 amid an industry-wide reset of discretionary retail estimates.

Weak trading trends approaching the close of FY26 prompted downward revisions ranging from 1% to 13% across revenue and net profit assumptions.

The revised target valuation blends discounted cash flow methodologies with a lowered 12x multiple on FY27 earnings per share.

Severe market pessimism leaves the stock trading 1.5 standard deviations below historical 5-year average price-to-earnings multiples.

An attractive 9% post-tax dividend yield and a $115m net cash position provide strong fundamental balance sheet support.