Opium, trying re-reading. I didn't say it wasn't customary for journos to declare an interest. I said having made his self-interest in TSCO clear, he was then hardly likely to ramp MRW or SBRY. No, he ramped TSCO all the way from well over 300 down to 155+ lows, then same again. - No argument to take apart as TSCO did all that by themselves. Cheers.
'this Bruno character at Sanford Bernstein has had a 140p price target '.
It is customary for all journos to declare an interest, when advancing opinions. These 'conspiracies' only exist in your head. This is easier than taking their arguments apart, I guess.
Interesting points re divi. Dalton kept the divi reasonably high and growing although he may have struggled this year. The only problem with a divi cut or temporary halt would be a corresponding reduction in SP. If this was to match a eg. 30% cut in divi SP would equal 120p. The danger here would now be MRW would be in take over territory a danger board must be aware of. AIMHO and we will have to wait and see. GL for next week GL all.
Thanks, as with all others here for balanced views. Re possible divi cut? Agree it needn't be a bad thing, as seen with TSCO who went further & cancelled. By how much? It costs MRW's over £325M last year. Year profits on target, but only £335M to £365M. IMHO, trimming divi bill by about 30% & saving at least £100M won't surprise me. However, that's pure speculation. I'm no wiser than anyone else outside of MRW's new BoD. Other key things for market in shorter-term will be the new CEO's CV, his/her strategy, plus future profits guidance, including further rationalization of unprofitable interests on top the 10 stores already ear-marked. If those impress, I agree with Fruitster, et al, that we'll recover recent losses, if not see SP spike above 200. - Taking nothing for granted, but that's my best-case scenario that seems doable in next few weeks. Hope you & all have a VG w/end, too!
MORRISONS IDENTIFYING ITSELF
As part of the new teams strategy i do think there is a chance they may even scrap the dividend in short term as Higginson as historically been a man looking for Growth (i think growth in the supermarket sector is tough to come by now though). However if that is his and new ceo strategy he will be looking at investing all the dividend money back in the business. I think philips was starting to do a good job reducing prices and doing match and more card, however i do think the new strategy should also look at upgrading morrisons image and look better than the discounters of aldi and lidl. For instance when i look at the morrisons website vs lidls. Morrisons looks like the discounter to me, as its quite a shambles and basic. http://www.lidl.co.uk/en/index.htm http://www.morrisons.com/
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