Myer Holdings: Transfer of Analyst Coverage
We have transferred coverage of Myer Holdings. We reaffirm our current forecasts and our DCF-based fair value estimate of AUD 1.20 per share, as well as our no-moat and high uncertainty ratings. At current share prices, Myers trades at an 8% discount to our fair value estimate. We currently forecast a five-year CAGR in adjusted EPS of negative 5.4% to fiscal 2020. Underlying EPS declined by 25% to AUD 0.079 per share versus the first half of fiscal 2015, reflecting the challenging business envir...Myer Holdings is a department store group, with more than 60 stores across Australia. Co. also owns Australian womenswear designer brand, sass & bide.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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