Wesfarmers gain as brokerages show 'positive bias' amid growth prospects
Updates
** Shares of Australia's Wesfarmers WES.AX rise as much as 1.5% to A$67.455, their highest since April 10
** Analysts at Jarden note that the conglomerate sees growth across its various businesses on the back of expansion strategies and operational efficiencies
** Jarden highlights medium-term upside to co's supermarket chain Kmart and hardware busines Bunnings
** Brokerage keeps "neutral" rating on co with a positive bias
** Jarden sees Wesfarmers to evolve into the country's leading customer facing business over the next 5-10 years if growth strategies are executed
** Analysts at another brokerage Jefferies say Wesfarmers' WES.AX focus on customer value and long-term returns is delivering despite challenging macro-economic conditions
** Brokerage says the conglomerate is displaying quality in its management as well as productivity benefits from its previous investments
** Efficiency is a continued focus, and there is further opportunity to drive productivity across the businesses - Jefferies
** Stock has risen 16.6% this year, as of last close
Reporting by Rishav Chatterjee in Bengaluru
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