Video: Industrials update - Alex Lu, Analyst By Alex Lu 14 January 2021, 12:00 PM Morgans Analyst Alex Lu details his latest perspective on the Industrials Sector. He also covers his key picks including Amcor (ASX:AMC), Brambles (ASX:BXB), Invocare (ASX:IVC), Coles (ASX:COL), Woolworths (ASX:WOW), PWR Holdings (ASX:PWH) and Acrow Formwork and Construction Services (ASX:ACF). Read more...
Wesfarmers: Trading well despite some disruptions By Alex Lu 12 November 2020, 12:00 AM Wesfarmers' (ASX:WES) trading update overall for October YTD was better than we expected. Bunnings and Officeworks were particularly strong with Catch also maintaining good momentum. LFL sales at Kmart and Target were solid, boosted by very strong online growth, although total sales were adversely impacted by government-mandated store closures in Melbourne. Read more...
Coles Group: The cost of doing essential business By Alex Lu 20 August 2020, 8:52 AM Coles Group's (ASX:COL) FY20 result (pre-AASB16) overall was slightly above our expectations. Supermarkets EBIT rose 11% (+2% vs Morgans), Liquor EBIT was flat (+5% vs Morgans) and Express EBIT fell to -A$16m (Morgans -A$22m). Read more...
Reporting Season Preview: Industrials By Alex Lu 28 July 2020, 2:45 PM Analysis on stocks within the Industrials sector ahead of the August 2020 reporting season. Read more...
Woolworths: Investing in the long term supply chain By Alex Lu 25 June 2020, 7:50 AM WOW has announced plans to develop two automated distribution centres at Moorebank, NSW for an investment of A$700-780m over four years. Read more...
Wesfarmers: Biting the bullet By Alex Lu 25 May 2020, 10:45 AM Minor changes to earnings forecasts Read more...
Reporting Season 2020: Industrials Sector Review By Alex Lu 10 March 2020, 12:00 AM Morgans Research Analyst Alex Lu shares some post reporting season comments on Woolworths Group (ASX:WOW), Coles Group (ASX:COL), Amcor (ASX:AMC) and Invocare (ASX:IVC). Read more...
Woolworths: Sales momentum slows By Alex Lu 27 February 2020, 12:57 PM 1H20 result overall was better than we expected, however, we still maintain our hold rating. Read more...
Wesfarmers: Still some things to work on By Alex Lu 20 February 2020, 5:57 PM Despite a reduction in earnings forecasts, our target price rises due to updates to peer multiples and a roll-forward of our model to FY21 forecasts. Read more...
Coles Group: The devil is in the detail By Alex Lu 07 February 2020, 2:09 PM Coles Group (ASX:COL), 1H20 sales performance was better-than-expected with all divisions delivering solid growth. Read more...