Ord Minnett now prefers Coles Group over Woolworths Group.

As a result, the target for Lighten-rated Woolworths Group is lowered to $32.20 from $34, while the broker's rating for Coles rises to Hold from Lighten. 

The broker is cautious on the overall outlook for the grocery space, despite believing risks are now more reflected in valuations. There's considered to be downside risk to consensus earnings, following an inflection point reached in the FY22 reporting season.

Sector: Food & Staples Retailing.

Target price is $32.20.Current Price is $33.38. Difference: ($1.18) - (brackets indicate current price is over target). If WOW meets the Ord Minnett target it will return approximately -4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena