0137 GMT - Coles remains the preferred Australian supermarket pick of Citi analyst Adrian Lemme, who sees potential for it to beat market expectations for fiscal 2026. Lemme writes in a note that Coles' new distribution and fulfillment centers could deliver benefits, including by drawing new customers in areas where Coles is relatively poorly represented by store numbers. He also takes encouragement from Coles' strategy of simplifying its multiple liquor-store brands, which he thinks should help improve brand awareness and value perception among consumers. Citi has a last-published buy rating and A$21.00 target price on the stock, which is up 0.6% at A$21.34. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 21:37 ET (01:37 GMT)
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