Analysts: The Myer Holdings Ltd share price could fall further

The share price of Myer Holdings Ltd (ASX:MYR) continued to climb on Monday but the future for the struggling retailer remains uncertain.  

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The Myer Holdings Ltd (ASX: MYR) share price continued its climb and closed at $0.79c on Monday after a rise of 1.94%.

Interest in Myer Holdings has continued since Premier Investments Limited (ASX: PMV) last week requested a copy of the retailer's share register. 

On the back of that news, although details were scant, shares in Myer Holdings climbed nearly 10% on September 27. 

But September did have its problems for Myer.

On September 20, a week before Premier Investments made its request for Myer's share register, the share price hit a 10-year low of $0.68c after the company announced its underlying annual net profit dropped 1.9%. 

Analysts have set an average price target of $0.69c, with one tipping the retailer's share price to dip to $0.63c. 

Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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