FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Wesfarmers Lacks Near-Term Catalysts to Drive Earnings Upside, Macquarie Says

By

Wesfarmers (ASX:WES) lacks valuation support and has no near-term catalysts to generate any further earnings upside, Macquarie analysts said, the Australian Financial Review reported Thursday.

In a note following Wesfarmers' strategy day, Macquarie analysts said the company's Bunnings and Kmart brands will continue to support returns for the group, alongside positive signals in the company's health and lithium divisions, AFR reported.

The equity research firm downgraded its rating on Wesfarmers to neutral, while lifting its target price by AU$1 to AU$85, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Kim Forest Enterprise Wins NT$110 Million Genome Sequencing Kit Supply Deal

Kim Forest Enterprise (TPE:6645) won a tender to supply whole genome sequencing assay kits to a national hospital in Taiwan under a contract worth NT$110 million, according to a Wednesday Taiwan Exchange filing.Shares slid about 2% in Thursday's late morning trade.The contract runs from June 10, 2026, to Dec. 31, 2028.Kim Forest said the deal is expected to expand its business operations and boost revenue.

TPE:6645
Asia

Beijing Balance Medical Tech to Buy Back Up to 100 Million Yuan Worth of Shares

Beijing Balance Medical Technology (SHA:688198) plans to repurchase shares worth between 50 million yuan and 100 million yuan, according to a Shanghai bourse filing on Thursday.The company will buy back between 359,583 shares and 719,165 shares, which represents 0.26% to 0.52% of the company's total shares, within 12 months after the approval of the board of directors.The maximum repurchase price will be 139.05 yuan per share.The repurchased shares will be used for the company's employee stock ownership plan or equity incentives.The medical device manufacturer's shares rose 1% during the morning trade.

SHA:688198
Asia

MediaTek's Sales Edge Up in April; Shares Drop 3%

MediaTek (TPE:2454) booked consolidated net sales of NT$47.4 billion in May, up 1.5% from NT$46.7 billion in April, according to a Wednesday Taiwan Exchange filing.Shares slid about 3% in Thursday's late morning trade.MediaTek did not provide further details in the filing.

TPE:2454