WES – Credit Suisse rates the stock as Underperform

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Wesfarmers is scheduled to report on February 19, and Credit Suisse anticipates a “solid” performance despite some industrials issues. Sales growth at Bunnings is believed to be accelerating and Kmart, despite overall tough conditions for retail, should come out well, assisted by logistics problems in the past.

There are negative pressures for the chemicals business and industrials issues to work through at Blackwoods, but the analysts suggest nothing here to trouble investors, really. Ahead of the result, thr broker has increased its target to $36.15 from $32.51. Underperform rating retained.

Sector: Food & Staples Retailing.

Target price is $36.15.Current Price is $45.49. Difference: ($9.34) – (brackets indicate current price is over target). If WES meets the Credit Suisse target it will return approximately -26% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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