UBS seem to think MYER is worth buying into at these prices.
I still maintain if DJS is worth $4.00 then myer is very undervalued at $2.31, being the larger of the two operations.
But I think Woolworths have definitely overpaid a tad. That said they have done a cracking job with country road, so obviously some good heads in that company.
Despite being on the ropes , and looking like the ugly bloke that got spurned by the beautiful DJS , watching her run into the arms of another, Myer are still a solid brand, return a regular if slightly diminished dividend And I think if they can get the omni channel offering right they will do ok.
I wouldn't rule out an overseas bid for myer at this price though.
If they drop to $2.00, as some have predicted I would buy quite a few more.
MYR Price at posting:
$2.29 Sentiment: LT Buy Disclosure: Held
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