Ord Minnett upgrades Wesfarmers stock to Buy from Hold

Published on 10/23/2026 at 10:03 | 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 50.14 on October 23, 2026.

Broker view and operating scale

Ord Minnett upgraded Wesfarmers to Buy from Hold on October 19, 2026.
Fiscal year 2026 revenue rose 3.40 percent to AUD 47.27 billion.
Wesfarmers stock trades at EUR 50.14 at 9:59 a.m. CEST at Lang & Schwarz on October 23, 2026.

Wesfarmers, AU000000WES1, Illustration mit AI erstellt.

Wesfarmers (AU000000WES1) stock is trading at EUR 50.14 at Lang & Schwarz on October 23, 2026, while Ord Minnett upgraded the rating from Hold to Buy on October 19, 2026, according to FNArena. The broker change keeps attention on valuation after a strong fiscal 2026 operating result.

Why the broker view changed

Ord Minnett's Buy call followed a sequence of positive broker activity. On October 14, 2026, Barrenjoey upgraded Wesfarmers to Overweight from Neutral and set an AUD 89.00 price target, as reported by MarketScreener. That target is a useful counterweight to the euro quotation because it is expressed in the stock's Australian listing currency.

Wesfarmers' latest full-year figures provide the operating backdrop. In fiscal year 2026, revenue increased 3.40 percent from AUD 45.70 billion to AUD 47.27 billion, while underlying EBIT rose 7.30 percent to AUD 4.49 billion and underlying net profit increased 8.30 percent to AUD 2.87 billion, according to Veye.

Three recent markers

The chronology is clear: Wesfarmers published fiscal 2026 results on August 27, 2026, with underlying net profit at AUD 2.87 billion; Barrenjoey announced its AUD 89.00 target on October 14, 2026; and Ord Minnett upgraded the stock to Buy from Hold on October 19, 2026. The sequence moves from delivered earnings to broker reassessment.

What comes next for Wesfarmers?

The main investor question is whether retail execution can support the higher broker conviction. Bunnings earnings rose 5.00 percent in fiscal year 2026, Kmart earnings increased 6.00 percent, and WesCEF earnings climbed 18.50 percent to AUD 473.00 million, according to Veye. Those figures show why the diversified portfolio remains central to the investment case, while the fiscal 2027 capital expenditure outlook of AUD 1.30 billion to AUD 1.50 billion keeps execution relevant.

Stock valuation context

Wesfarmers had an AUD 91.2 billion market capitalization and an AUD 70.80 to AUD 94.70 52-week range as of October 23, 2026. The stock is listed on the ASX under WES, and the investor center identifies the ASX and AUD as the listing exchange and quotation currency. At Lang & Schwarz, the intraday quote stood at EUR 50.14 on October 23, 2026 at 9:59 a.m. CEST.

Wesfarmers was trading at EUR 50.14 at Lang & Schwarz on October 23, 2026 at 9:59 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Wesfarmers stock.