Citi upbeat on Coles' quarterly earnings; sees growth for shares

Coles

30/04/2025 21:59

** Analysts at Citi are upbeat on Australian supermarket operator Coles' COL.AX quarterly results

** On Wednesday, Coles reported a 3.4% rise in third-quarter revenue, aided by strong performance at its supermarkets division

** "Coles posted a solid Supermarket result despite cycling a strong quarter" — Citi

** Citi says it favours Coles ahead of its rival Woolworths WOW.AX

** Brokerage expects Coles' shares to be well supported amid current volatile environment

** Eight of 16 analysts rate the stock "buy" or higher, seven "hold" and one "sell" or lower; their median PT is A$21.70 – LSEG data

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))