The thing is, even at 1.30, this would just be touching a $1B valuation, which in my opinion, is still ridiculously cheap considering that David Jones is now shrinking into some obscure boutique oblivion, and that the obvious play out for the Australian Department store industry is some sort MYER/Premier partnership or merger in which this substantial PMV creep up on the MYR register seems to be representing just the beginnings of. So yes BFP, this really does have "some way to go". Just make sure that you hold on to all your shares super tight from here.
MYR Price at posting:
87.0¢ Sentiment: Buy Disclosure: Held
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