0057 GMT - Wesfarmers' plans to expand its Kmart furniture sales do little to move the dial on the stock for UBS analysts. Maintaining a neutral rating, they tell clients in a note that strong earnings growth outlook for Wesfarmers' Kmart and Bunnings chains is already reflected in the retail and industrial conglomerate's valuation multiples. They acknowledge that the discount department store Kmart's total addressable market and market share have expanded, with growth drivers including new home-and-living stores, but see risk-reward as balanced at current levels. UBS lifts the stock's target price by 3.7% to 84.00 Australian dollars. Shares are down 0.2% at A$83.24. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 10, 2026 20:57 ET (00:57 GMT)

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