Wesfarmers to Fall From Favor When Rate Cuts Happen -- Market Talk

Dow Jones

2024/10/23

2144 GMT - Investors should position themselves for interest-rate cuts in Australia, says Bell Potter. It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. "While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen," Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 22, 2024 17:44 ET (21:44 GMT)

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It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. 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It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WFAFY":"Wesfarmers Ltd.","JBH.AU":"JB HI-FI LTD","WES.AU":"WESFARMERS LTD","BK7001":"电脑与电子产品零售","PMV.AU":"PREMIER INVESTMENTS LIMITED","APE.AU":"Eagers Automotive Ltd","BK7153":"综合零售","BK4114":"综合货品商店","BK4220":"综合零售","BK7041":"综合货品商店","BK7021":"服装零售","BK7143":"汽车零售","BK7511":"ESG概念"},"translate_title":"降息时西农集团将失宠——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WFAFY":0.9,"APE.AU":0.9,"PMV.AU":0.9,"JBH.AU":0.9,"WES.AU":0.9},"content_text":"2144 GMT - Investors should position themselves for interest-rate cuts in Australia, says Bell Potter. It anticipates a rotation away from Wesfarmers, which looks expensive compared to mid-cap and small-cap stocks. Improving consumer confidence can drive more discretionary spending on products such as clothing and electronics, strategist Rob Crookston says. \"While Wesfarmers has benefited from consumers trading down in the current high-interest rate environment, this trend will likely reverse as household balance sheets strengthen,\" Bell Potter says. It thinks consensus earnings forecasts for retailers such as JB Hi-Fi, Premier Investments and Eagers Automotive look too conservative. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 22, 2024 17:44 ET (21:44 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}