Analysts at UBS recently adjusted the price target for Australia’s Wesfarmers (ASX:WES), lowering its projected value from A$57 to A$56.50.

Despite this alteration, the financial institution continues to maintain a ‘buy’ rating for Wesfarmers.

UBS reported that trading for Wesfarmers' Kmart brand exhibited moderation during the initial seven weeks of 1H24, contrasting the previous half, 2H23.

Currently, Wesfarmers' shares, belonging to the country’s top listed conglomerate, witnessed a slight increase of 0.4% at A$52.36.

Among fifteen analysts, seven rate Wesfarmers' stock as ‘buy’ or higher, while five recommend a ‘hold’ and three advice a ‘sell’ or lower.

The median price target, according to LSEG data, stands at A$50.84.

In terms of annual performance, Wesfarmers’ stock has risen 13.6% this year, considering the data up to the last closing.

Wesfarmers (ASX:WES) is Australia’s largest listed conglomerate, with diverse operations covering retail, mining, and more.