Business · Markets · 2 hrs ago
Wesfarmers shares rebound about 12% from September low
Wesfarmers shares have rebounded about 12% from a low recorded in mid-September, reaching $80.63 in Wednesday morning trading.
Wesfarmers is an Australian conglomerate whose major businesses include Bunnings and Kmart.
Its shares had fallen sharply after company updates in February and August, and were still down about 1% for the year and 11% from a year earlier.
The latest full-year update showed revenue growth and stronger earnings before interest and tax, but statutory net profit fell 1.8%.
Investors were also concerned about rising operating and labour costs, softer retail momentum and higher planned spending in FY27.
No specific company news explains the recent rebound; it may reflect investors seeing the shares as oversold, while softer Australian employment data eased fears of another interest-rate rise.
Analysts remain divided, with average share-price targets in two sets of data below the current price, so the outlook is uncertain.
Wesfarmers shares have rebounded around 12% from a low of $72.29 recorded in mid-September.
The shares rose around 1% to $80.63 in Wednesday morning trade, according to the article published on October 21.
The article says there was no specific price-sensitive company news to explain the rebound.
It suggests investors may have viewed the shares as oversold and that softer-than-expected Australian employment data may have lifted confidence in retail stocks.
Analyst views remain mixed, with average price targets below the share price at the time of writing.
- Who
- Wesfarmers Ltd and its shareholders.
- What
- Wesfarmers shares rebounded around 12% from their mid-September low.
- When
- The rebound was reported on October 21, 2026; the low was recorded in mid-September.
- Where
- On the Australian Securities Exchange (ASX).
- Why
- No specific company news was identified. The article suggests the shares may have been oversold and that softer Australian employment data helped retail-sector sentiment.
Bearish analysts
Bullish analysts
Share outlook
Bearish analysts
Some analysts expect further declines; some price targets imply the shares could fall 19% to $65.
Bullish analysts
Some analysts rate the shares buy or strong buy, and some expect them to rise 10% to $89.
Wesfarmers shares fell around 20% over six weeks.
The company posted its full-year FY26 update, after which the shares suffered a significant crash.
Wesfarmers shares recorded a low of $72.29.
The shares were up around 1% to $80.63 in Wednesday morning trade, about 12% above the mid-September low.
- Mid-September low
- $72.29
- October 21 share price
- $80.63
- Rebound from low
- Around 12%
- Year-to-date performance
- Down around 1%
- Market Index average target
- $75.58
- TradingView average target
- $76.59