2127 GMT - Coles bull UBS says the Aussie grocer has a leg up on its chief rival Woolworths, pointing out that Coles's sales growth of 3.4% to start 2H is ahead of Woolworths's growth of 3.3%. Cost-of-living pressures are prompting consumers to shop more online and seek out more promotions, but UBS tells clients that Coles is managing the shift well, with Coles optimizing promotions and range better than Woolworths. UBS boosts its target price on Coles to A$22.35/share from A$19.50/share, compared to Friday's close of A$19.98/share. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
March 02, 2025 16:27 ET (21:27 GMT)
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