This should be in the 'AFR' print edition on Wednesday 7 February 2024:
(the reference to 'companies' includes listed NCK plus MYR):
"...WAM’s Mr Oberg said consumer-facing stocks have trailed the recovery seen in other sectors over the past six months, and the market was positioned much too bearish. “The expectations in the market from the analysts covering both of those companies were factoring in negative outcomes around sales and gross margins. Things have turned out through October, November, December to be a lot better than people expected,” he said. Further, Mr Oberg said Myer’s sales update was a tremendous result in the circumstances: “To get a flat top line result and then to see it improve through November, December versus their AGM update was really strong. That bodes well for the remainder of the year,” he said. “Myer is still generating well over $50 million in profit, has minimal debt and is paying very strong dividends. It’s on a very low valuation, so it just feels like a matter of time before the market wakes up..."
MYR Price at posting:
76.0¢ Sentiment: Hold Disclosure: Held
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