Wesfarmers Shares Surge as UBS Upgrades Price Target

February 07, 2025 01:16 PM AEDT | By Team Kalkine Media

Wesfarmers Shares Surge as UBS Upgrades Price Target — Image source: © Mohammedsoliman4 | Megapixl.com

Bunnings Powers Wesfarmers' Growth

Wesfarmers reported FY 2024 revenue of $44.2 billion, a 1.5% year-on-year increase, with Bunnings contributing $18.97 billion, up 2.3% from FY 2023.

Managing Director Rob Scott highlighted the hardware giant’s resilience, stating, “Bunnings demonstrated its ability to grow in various market conditions, with stronger sales in the second half.”

Analysts at UBS expect Bunnings to continue recovering from its post-COVID slowdown, driving further upside for Wesfarmers.

Goldman Sachs Sees Even More Upside

While UBS is cautious about further gains, Goldman Sachs is more bullish, upgrading Wesfarmers from a neutral to a buy rating in late January.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.