MHJ - Morgans rates the stock as Hold
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The latest market update by Michael Hill implies same stores sales growth was a negative -2.4%, point out analysts at Morgans. They have in response reduced forecasts.
Morgans highlights all regions saw growth decline incrementally, but Australia and Canada were both negative stand-outs. They flag the risk for write-downs regarding the E&R brand review.
Hold rating maintained, while the price target falls to $1.23 from $1.28. The company is scheduled to report its interim result on 22 February.
Sector: Consumer Durables & Apparel.
Target price is $1.23.Current Price is $1.24. Difference: ($0.01) - (brackets indicate current price is over target). If MHJ meets the Morgans target it will return approximately -1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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