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News Corp reported a revenue of US$2.24 billion, marking a 5% year-over-year growth, with net income rising 58% to US$306 million. REA Group achieved A$873 million in revenue, up 20% YoY, while Beach Energy's sales revenue reached A$990 million, reflecting a 5% increase. Pexa Group announced a significant rise in its impairment forecast, and upcoming earnings reports are anticipated from AGL Energy, Charter Hall Retail REIT, Nick Scali, and Lithium Energy.
UBS has upgraded Wesfarmers Ltd. from Sell to Neutral, raising the price target from AUD69 to AUD76, reflecting a more optimistic outlook on sales growth, particularly for Bunnings. Analyst Shaun Cousins highlighted potential capital-light growth drivers and projected above-market like-for-like sales growth of 6.0% by fiscal year 2026. The upcoming Bunnings investor day is anticipated to provide further insights into the company's strategic plans and growth execution.
Wesfarmers has sold its industrial gas supplier Coregas as part of a strategy to recycle assets and fund future acquisitions. Despite a cash boost, the company's price-to-earnings ratio has risen to around 32, leading to a 2.5% drop in share price as investors reassess growth prospects. Analysts suggest the firm’s diversified revenue streams offer stability, but caution that high valuations may prompt investors to reconsider their holdings.
Wesfarmers Ltd
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02:05 07.02.2025
ubs upgrades wesfarmers stock rating and raises price target to aud 76
09:53 06.02.2025
Wesfarmers sells Coregas as part of strategic asset recycling plan
04:19 20.12.2024
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