Australia's Wesfarmers rises; UBS upgrades to 'neutral' on Bunnings' growth optimism

WESFARMERS

06/02/2025 01:08

** Shares of conglomerate Wesfarmers  WES.AX  rise as much
as 3.2% to A$77.06
    ** Brokerage UBS raises co's stock rating to "neutral" from
"sell", hikes price target to A$76 from A$69
    ** UBS says co has strong growth options across all
divisions
    ** Sees sales growth at home improvement chain Bunnings
accelerating, with EBIT margins supported by technology, retail
media & supply chain investments
    ** Brokerage adds Bunnings' addressable market is large and
growing and it has opportunities to expand to new categories 
    ** WES stock is top gainer on consumer discretionary
sub-index  .AXDJ , which is up 1.5%
    ** As of last close, Wesfarmers stock up 4.4% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))