0015 GMT - Wesfarmers' exposure to new growth drivers turns Goldman Sachs analysts bullish on the Australian retail and industrial conglomerate. Raising their recommendation on the stock to buy from hold, GS analysts write in a note that the group's expansion into health and lithium will start to contribute positively to sales and earnings from fiscal 2026 or fiscal 2027. They see its more established Bunnings hardware and Kmart retail units delivering 8% on-year EBIT growth in fiscal 2026. GS raises its target price 13% to A$78.70. Shares are up 3.1% at A$74.55. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 19:15 ET (00:15 GMT)
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