2304 GMT - The material long-term opportunities in front of Australian hardware chain Bunnings are already largely reflected in its owner's share price, Macquarie analysts say. They tell clients in a note that Wesfarmers' price-to-earnings ratio is already above its long-run average, keeping them neutral on the stock. Even so, they see multiple opportunities for Bunnings to grow sales and earnings. They point to its expansion into auto goods and solar systems, its retail-media initiative, and supply chain simplification. Macquarie trims its target price 7.4% to A$75.00 to reflect changes to peer valuation multiples. Shares are at A$72.12 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 27, 2025 19:05 ET (23:05 GMT)
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