FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Woolworths Group Shares Advance After JPMorgan Upgrade

By

Woolworths Group (ASX:WOW) shares advanced 4% in recent Tuesday trade after JPMorgan raised its recommendation on the company to "overweight," the Australian Financial Review reported the same day.

In a note, JPMorgan reportedly said investor focus is shifting toward margin differentials as opposed to sales growth amid a fresh inflation cycle driven by geopolitical concerns.

"We expect Woolworths to once again leverage its strong position with suppliers to generate gross margin expansion as it rolls out its Customer Offer Reset program across a broader range of categories," the report quoted JPMorgan as saying.

The investment firm also raised its fiscal 2027 and 2028 earnings estimates for Woolworths by 1.2% and 7.6%, respectively, while increasing its price target to AU$37, 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

Telix Pharmaceuticals Shares Fall 3% After Entering Collaboration to Explore Prostate Cancer Imaging in New Treatment Approaches

Telix Pharmaceuticals (ASX:TLX) shares fell 3% in recent Monday trade after the company said late Friday it has entered into letters of intent to pursue collaborations with EDAP TMS and Profound Medical, developers of minimally invasive and image-guided ablative treatment technologies for prostate cancer.The company said in a statement that the collaborations will explore the investigational use of its prostate-specific membrane antigen positron emission tomography imaging agents Gozellix and Illuccix with robotic high-intensity focused ultrasound and other image-guided therapies designed to treat localized prostate cancer, including transurethral ultrasound ablation.

ASX:TLX
Asia

ITC Properties Explores AI Infrastructure Venture With Telecom Services Firm; Shares Jump 12%

ITC Properties (HKG:0199) signed a memorandum of understanding with Beijing Qiyuan Zhisuan Data Technology to explore cooperation in artificial intelligence infrastructure and data center businesses, according to a May 15 Hong Kong bourse filing.Shares of the property developer rose nearly 12% in late-morning trade on Monday.The companies plan to collaborate on AI infrastructure, internet data center resources, artificial intelligence data center development, computing power services, and data center operations.ITC said the parties may also explore a variable interest entity structure involving Qiyuan Zhisuan, which holds telecommunications licenses in China for internet data center and internet access services.The memorandum will remain valid for 12 months unless terminated earlier.

HKG:0199
Asia

ChinHung International Wins KRW62.6 Billion Housing Redevelopment Project in Jeongneung-dong, South Korea

ChinHung International (KRX:002780) secured a construction order to build 209 apartment units and ancillary welfare facilities at the site around 223-1 Jeongneung-dong, Seongbuk-gu, Seoul, according to a Monday filing on the Hong Kong Stock Exchange.The contract is valued at 62.6 billion won. The contract period runs until the end of the month, marking 32 months from the actual start of construction, the filing said.Shares of ChinHung International fell nearly 1% in recent trade.

KRX:002780