Coles Group Ltd (COL) $17.10

COL delivered a better 3Q trading update than WOW, but it was not enticing enough to take the supermarket giant onto our Hitlist. Its hard to envisage COL pushing much further above $17 as population growth and supermarket pricing become major political footballs into 2025’s election, i.e.  a classic case of “if in doubt stay out”, especially after the stocks bounced ~15%. If pushed we prefer COL over WOW but it’s unlikely either will be in our portfolios in the next few months.

• We may consider COL back under $15, a similar stance to that on WOW.