WES - Citi rates the stock as Buy, Medium Risk
BY BROKER NEWS - 13/07/2009
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• WES - WESFARMERS LIMITED
Stronger retail sales and better coal prices are contending with higher interest costs and Gresham private equity losses in FY09, which together see the broker make some changes to its estimates.
FY09 EPS is cut by 3.8%, but FY10 is upgraded by 1.3%.
Otherwise, the Buy call and target price are maintained, with the broker positive about what it sees as improved momentum in the Coles Food and Liquor business. Sector: Food and Staples Retailing.
Target price is $24.80.Current Price is $22.40. Difference: $2.40 - (brackets indicate current price is over target). If WES meets the Citi target it will return approximately 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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