Myer Shows First Indications of Turnaround in Profits; We Increase Our FVE by 5% to AUD 0.66
No moat-rated Myer surprised the market with a solid first-half result for fiscal 2019, loaded with a raft of clear operational and financial improvements. The market reacted accordingly, with the share price jumping 11%. Nevertheless, shares are still trading at a meaningful discount to our fair value estimate and screen as undervalued. We increase our fair value estimate by 5% to AUD 0.66 due to the time value of money.The result mitigated two key risks that had been overhanging the Myer shar...
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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