Myer downgraded

Unfortunately the buying opportunity in Myer lasted less than a month and, as we’re reluctant to chase the stock, we’re downgrading a notch.

Myer’s share price has continued to rise since our recent update in Myer: AGM 2015 on 20 Nov 15 (Speculative Buy – $1.03). The stock is now up 19% since Is Myer still a pariah? on 11 Nov 15 (Speculative Buy – $0.943). Consistent with the last update, we’re downgrading to HOLD.

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