Barrenjoey upgrades Wesfarmers stock to Overweight at AUD 89.00

Published on 10/27/2026 at 15:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barrenjoey set an AUD 89.00 target on October 14, 2026. Wesfarmers stock costs EUR 49.68 on October 27, 2026 at 3:13 p.m. CEST in trading.

Target and reporting date

Barrenjoey upgraded Wesfarmers to Overweight with an AUD 89.00 target on October 14, 2026.
Quarterly revenue reached AUD 23.00 billion for the period ended June 30, 2026, versus AUD 22.14 billion a year earlier.
Wesfarmers stock costs EUR 49.68 at Lang & Schwarz on October 27, 2026 at 3:13 p.m. CEST.
The annual meeting is scheduled for October 29, 2026.

Wesfarmers, AU000000WES1, Illustration mit AI erstellt.

Wesfarmers (AU000000WES1) carries a Barrenjoey Overweight rating with an AUD 89.00 price target after the firm upgraded it from Neutral on October 14, 2026, according to MarketScreener. The target stands 12.90 percent above the ASX price of AUD 78.83 on October 27, 2026. At Lang & Schwarz, the stock was trading at EUR 49.68 on October 27, 2026 at 3:13 p.m. CEST.

Revenue growth meets profit pressure

Wesfarmers reported quarterly revenue of AUD 23.00 billion for the period ended June 30, 2026, compared with AUD 22.14 billion a year earlier. Net profit was AUD 1.27 billion, down from AUD 1.46 billion in the comparable quarter, according to Markets Insider. The figures put the analyst upgrade beside a mixed operating picture, with revenue expanding while profit contracted.

Stock remains below its yearly high

The ASX price of AUD 78.83 was 16.76 percent below the 52-week high of AUD 94.70 and 11.34 percent above the low of AUD 70.80 on October 27, 2026. Wesfarmers had a market capitalization of AUD 89.5 billion, a price-to-earnings ratio of 31.16 and trading volume of 1,323,886 shares on that date. The stock was down 0.25 percent on the ASX session.

What does the target imply?

The AUD 89.00 target leaves a 12.90 percent gap above the ASX price of AUD 78.83. That spread is narrower than the distance to the 52-week high, while the valuation remains above the levels of two major Australian retail peers. The scheduled annual meeting adds a near-term corporate date, with October 29, 2026 listed as the meeting date by Simply Wall St.

Comparison with peers

Wesfarmers: down 0.25 percent, price-to-earnings ratio 31.16, market capitalization AUD 89.5 billion.
Coles Group (ASX, AUD): down 0.79 percent, price-to-earnings ratio 29.62, market capitalization AUD 32.2 billion.
Woolworths Group (ASX, AUD): up 0.32 percent, price-to-earnings ratio 44.58, market capitalization AUD 50.0 billion.

Price and dates

The ASX session placed Wesfarmers below its annual high, while the analyst target and the October 29, 2026 annual meeting provide the next dated reference points for investors. The current euro quotation was EUR 49.68 at Lang & Schwarz on October 27, 2026 at 3:13 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Wesfarmers stock.