25 stories mentioning ASX:WESUpdated 2d ago
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Consumer discretionary stocks advanced more than 1% at midday Tuesday.Wesfarmers (ASX:WES) gained 1% in recent trade.On the flip side, the materials sector struggled, shedding more than 2%.BHP Group (ASX:BHP) shares fell past 2% in recent trade.
Consumer demand has been under pressure due to lower confidence, higher interest rates and a soft property market but retailers are set to report fiscal 2026 results broadly in line with consensus, Jefferies said in a note on Monday.The investment firm said, however, rising competition and elevated wage inflation are expected to weigh on retailers' earnings in fiscal 2027.The outlook for the supermarket sector in fiscal 2027 remains sturdy, as food inflation is expected to help offset rising wage costs. Coles Group (ASX:COL), was picked as the preferred stock, with a buy rating and a raised price target of AU$26.50 from AU$25.50.Wesfarmers (ASX:WES) was downgraded to underperform, with price target of $73. Despite the retailer's strong businesses and productivity initiatives, Jefferies said the valuation appears expensive following recent share price gains in light of moderate earnings growth.Flight Centre Travel (ASX:FLT) had been performing well before the outbreak of war in the Middle East. Its outlook remains robust, supported by recovering travel demand and a stronger leisure business mix after COVID-19, while rivals continue to face challenges. The brokerage provided a buy rating and price target of AU$14.50.Domino's Pizza Enterprises (ASX:DMP) is progressing well with improving debt levels and cost reductions beginning to deliver results. Same-store sales growth, which has been weak due to unprofitable promotions, should gain pace as pricing measures take effect. Jefferies maintained its buy rating but lowered its price target to AU$26.00 from AU$28.50.
Wesfarmers (ASX:WES) agreed to sell Cm3, its Australian contractor management software business within the Blackwoods Group of its Bunnings division, to UK-based supply chain risk and performance management company Achilles, according to a Friday statement by the company.The company did not disclose the financial terms of the deal but said it expects to recognize a gain from the sale upon completion of the transaction, pending approval from Australia's Foreign Investment Review Board.The company's shares fell past 1% in recent Friday trade.
It remains unclear whether Wesfarmers (ASX:WES) will generate an acceptable return on investment from the Covalent Lithium project in Western Australia due to uncertainty and volatility in lithium prices, Jefferies said in a Wednesday note.The project is an integrated operation comprising the Mt Holland mine and concentrator and the Kwinana refinery.The company recently approved a final investment decision to expand the Mt Holland mine and concentrator capacity with joint venture partner Sociedad Quimica y Minera de Chile.The expansion will increase nameplate spodumene concentrate production to 760,000 tonnes per year from about 380,000 tonnes per year on a 100% basis, while reducing unit operating costs and accelerating cash flows.Wesfarmers said its share of capital expenditure for Mt Holland is estimated at between AU$645 million and AU$715 million in nominal terms to be funded through existing cash and debit facilities.The company incurred roughly AU$2.8 billion of costs related to the project, Jefferies said.Jefferies maintained a hold rating and AU$73 price target on Wesfarmers.Wesfarmers shares fell nearly 2% in midday trade Thursday.
Wesfarmers (ASX:WES) and joint venture partner Sociedad Quimica y Minera de Chile approved a final investment decision to expand the Mt Holland lithium project in Western Australia, including the construction of a new integrated ore sorting facility, according to a Wednesday filing with the Australian bourse.Wesfarmers said its share of capital expenditure for the project is estimated at between AU$645 million and AU$715 million in nominal terms.The expansion will increase nameplate spodumene concentrate production to 760,000 tonnes per year from about 380,000 tonnes per year on a 100% basis, while reducing unit operating costs and accelerating cash flows, per the filing.Meanwhile, the new ore sorting facility will recover stockpiled material that is unsuitable for processing, adding about 3 million tonnes of spodumene concentrate production over the life of the operation.The construction of a second concentrator is expected to start in the second half of calendar 2027, with the first spodumene concentrate production volumes from the expansion due in the first half of calendar 2030, the company said.
Wesfarmers (ASX:WES) unit Bunnings is launching an overhauled professional trades loyalty scheme with the addition of spending-based rewards, The Australian reported Sunday, citing Bunnings Managing Director Mike Schneider.The home improvement and hardware retailer is introducing a multi-tiered loyalty program that targets tradespeople, builders, and small and medium-sized enterprises in Australia and New Zealand, according to the report.The program includes a partnership with Qantas Airways (ASX:QAN) offering members opportunities to earn points, with benefits progressively increasing under a new six-tier membership model, The Australian reported.(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.)
Consumer discretionary stocks advanced nearly 1% at midday Monday.Wesfarmers (ASX:WES) shares fell marginally in recent trade.On the flip side, the information technology sector struggled, shedding 2%.WiseTech Global (ASX:WTC) shares fell past 13% in recent trade.
Energy stocks advanced nearly 1% at midday Tuesday.Woodside Energy Group (ASX:WDS) gained more than 1% in recent trade.On the flip side, the consumer discretionary sector struggled, shedding nearly 2%.Wesfarmers (ASX:WES) shares were down almost 2% in recent trade.
Wesfarmers (ASX:WES) has an average rating of underweight and mean price target of AU$75.68, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
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.)
Wesfarmers (ASX:WES) has a material opportunity in the medium term to become a leading customer-facing business in Australia across health, consumables, goods, and energy, but capitalizing on this window will require time and more capital expenditure, Jarden said in a Wednesday note.The company struck an optimistic tone at its strategy day, although plans for its next growth phase are incremental rather than representative of a step change, the equity research firm said.Wesfarmers "is executing well and has a clear plan within its existing corporate portfolio," but until it provides clarity on the longer-term plan, Jarden prefers Sigma Healthcare (ASX:SIG) and Woolworths Group (ASX:WOW) where "investment is clearer and earnings higher."The investment firm came away more positive on Wesfarmers following its strategy day, but is cutting its fiscal year 2027 earnings per share forecast for the company by around 3%, while making a modest raise to the fiscal year 2028 estimate.Jarden maintained a neutral rating on Wesfarmers on valuation grounds, while lifting the target price to AU$79.30 from AU$75.30.
Wesfarmers (ASX:WES) is tracking in line with its strategy, with continued focus on customer value and shareholder returns as it deploys artificial intelligence across its divisions, Jefferies said in a note on Wednesday.The investment firm said the lack of sales commentary from the company indicates it is trading comfortably within consensus expectations.Accelerated investments, especially in data, digital and productivity initiatives are projected to result in "better growth," with opportunities in its WesCEF unit to use AI to boost production and margins, alongside broader AI adoption in its retail businesses.Jefferies said Wesfarmers' management appears confident in hardware chain Bunnings' sales growth despite macroeconomic pressures, supported by expansion into new categories such as rural, camping and lifestyle products, increased demand for repairs and maintenance if housing turnover slows, and network growth.The brokerage maintained its hold rating but raised price target to AU$73 from AU$72.
Australian shares rose on Wednesday amid freshly renewed hostilities between the US and Iran.The S&P/ASX 200 Index gained 0.57%, or 49.10 points, at 8,653.30.Brent crude oil futures rose to trade at around $91 per barrel after the US held Iran responsible for the downing of a US military helicopter.On the domestic front, seasonally adjusted data revealed that the total number of dwellings approved in Australia fell 3.4% to 16,710 in April from 17,307 in the previous month, according to final figures released by the Australian Bureau of Statistics.The ANZ-Roy Morgan Australian consumer confidence rose 2 points to 70.8 in the week of June 1 to June 7, ANZ reported. The four-week moving average rose 1.7 points to 68 points. Consumer sentiment improved broadly last week, with gains in financial conditions and medium-term confidence hitting their strongest levels since late February.In company news, Steadfast Group (ASX:SDF) said it received a conditional, non-binding, and indicative offer from Amwins Group and Dragoneer Investment Group to acquire the company by way of a scheme of arrangement at AU$6 per share in cash, representing an enterprise value of about AU$7.7 billion.Northern Star Resources (ASX:NST) Chairman Michael Chaney said that processing plant construction at Fimiston in Western Australia is nearing completion, on time and with a modest cost overrun. Chaney acknowledged that the firm's share price performance in the year had not met expectations and recognised shareholders' concerns.Lastly, Wesfarmers (ASX:WES) said it is partnering with artificial intelligence organizations to drive long-term sales and earnings growth. The company said it will use AI for agentic and conversational commerce and AI assistants for team members and supply chain optimization, among other applications.
Consumer discretionary stocks advanced nearly 3% at midday Wednesday.Wesfarmers (ASX:WES) gained almost 3% in recent trade after announcing that it is partnering with artificial intelligence organizations to drive long-term sales and earnings growth.On the flip side, the information technology sector struggled, shedding nearly 2%.Xero (ASX:XRO) shares were down past 1% in recent trade.
Wesfarmers (ASX:WES) said it is partnering with artificial intelligence organizations to drive long-term sales and earnings growth, according to a Wednesday Australian bourse filing.The company said it will use AI for agentic and conversational commerce and AI assistants for team members and supply chain optimization, among other applications.Wesfarmers said it is also expanding the addressable market and product offer for its Bunnings business, which it said has been resilient through challenging economic, geopolitical and financial market conditions.The company's shares rose nearly 3% in recent Wednesday trade.
Wesfarmers (ASX:WES) has an average rating of hold and mean price target of AU$75.57, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Wesfarmers (ASX:WES) is well-positioned to take share in the current market backdrop, further supported by scale and digital, Jarden said in a note on Monday.It also expects positive earnings-per-share consensus revisions, underpinned by updated near-term lithium price forecasts.Wesfarmers is executing well and has a clear plan within the existing corporate envelope. In the medium term, there is a material opportunity for it to become the leading customer-facing business in Australia across health, consumables, goods, and energy, although this will require time and money, per the note.The investment firm retained its neutral rating on Wesfarmers and raised the price target to AU$75.30 per share from AU$74.50 per share.
Wesfarmers (ASX:WES) said it will integrate its industrial and safety businesses, Blackwoods and Workwear Group, into Bunnings Group from July 1, to align customer bases and strengthen its offering to commercial and small and medium-sized enterprise customers, according to a Tuesday Australian bourse filing.The transition builds on recent operational improvements at Blackwoods and aligns with a strategy to enhance long-term shareholder value, per the filing.The businesses will continue to operate under their existing brands within Bunnings, with Blackwoods retaining its focus on large enterprise customers, the filing said.The financial impact is expected to be immaterial, with contributions reflected in Bunnings' results starting from the first half of fiscal 2027, the filing added.
Consumer discretionary stocks advanced marginally at midday Thursday.Wesfarmers (ASX:WES) gained more than 1% in recent trade.Meanwhile, the information technology sector struggled, shedding nearly 2%.Xero (ASX:XRO) shares fell 3% in recent trade.
Here are the ASX-listed companies with the biggest gains on Tuesday.Fisher & Paykel Healthcare (ASX:FPH): +7%, AU$29.55NRW Holdings (ASX:NWH): +3%, AU$7.46Capstone Copper (ASX:CSC): +2%, AU$14.23Wesfarmers (ASX:WES): +2%, AU$77.31Ventia Services Group (ASX:VNT): +2%, AU$6.28Southern Cross Gold (ASX:SX2): +2%, AU$9.86Sims (ASX:SGM): +2%, AU$24.61Alcoa (ASX:AAI): +2%, AU$100.97Codan (ASX:CDA): +2%, AU$41.23Eagers Automotive (ASX:APE): +1%, AU$22.25
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