"Citigroup analyst Craig Woolford expects Myer to outperform David Jones in the first half for the first time in two years as Myer is cycling weaker sales and margins.
I don't expect a magic MYR result, more a solid one - a 5% increase in sales would be welcome. Allied with the capital raise dedicated to increasing working capital, this should translate into a substantial increase in margins.
MYR only needs to produce a sound result and positive dividend 16 March to defeat the very crowded bear position. The absence of volatility in recent weeks ahead of the result must have them worried - their selling consistently met by ready buyers.
GLTAH
Ash
MYR Price at posting:
$1.29 Sentiment: Buy Disclosure: Held
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