I see it as a zero moat business in a fundamentally troubled industry, carrying a high level of risk. Dividend yield can change in an instant in volatile stocks like this, as we all know.
I'd call a ride from 88.5 to 1.18 a pretty good run. We're already notionally trading at a sizeable premium to most fair value estimates. Anything else would be speculation - but even in my wildest fantasies, I don't see 3.50 happening any time soon.
There's much safer places on the ASX to deploy your capital at the moment.
As always, DYOR.
MYR Price at posting:
$1.18 Sentiment: Sell Disclosure: Held
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