Deutsche Bank Reaffirms “Sell” Rating for Wesfarmers Limited (WES)
Wesfarmers Limited (ASX:WES)‘s stock had its “sell” rating reissued by analysts at Deutsche Bank in a research report issued to clients and investors on Monday. They currently have a $180.00 target price on the stock, up from their previous target price of $40.00.
Wesfarmers Limited (ASX:WES) opened at 43.300 on Monday. Wesfarmers Limited has a one year low of A$40.4516 and a one year high of A$45.880. The stock’s 50-day moving average is A$43.60 and its 200-day moving average is A$42.85. The company has a market cap of A$49.504 billion and a price-to-earnings ratio of 18.49.
A number of other analysts have also recently weighed in on WES. Analysts at JPMorgan Chase & Co. upgraded shares of Wesfarmers Limited to a “neutral” rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Wesfarmers Limited has an average rating of “Hold” and an average target price of A$89.67 ($83.80).
Wesfarmers Limited is engaged in retailing operations, including supermarkets, general merchandise and specialty department stores; fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; insurance; industrial and safety product distribution; chemicals and fertilizers manufacture, and investments.
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