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WES - Deutsche Bank rates the stock as Sell
BY BROKER NEWS - 20/11/2017 | VIEW MORE BROKER UPDATES

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WES - WESFARMERS LIMITED


The AGM update has indicated operating losses from the UK home improvements business are expected to worsen in FY18 as trading remains challenging for Homebase.

Deutsche Bank is not particularly surprised by this, following a weak first quarter sales performance. The broker always believed the entry into the UK came at significant risk, although the performance has been worse than expected.

Sell rating and $38 target retained.

Sector: Food & Staples Retailing.

Target price is $38.00.Current Price is $42.30. Difference: ($4.30) - (brackets indicate current price is over target). If WES meets the Deutsche Bank target it will return approximately -11% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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