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Wesfarmers (WES) $55.07

Yesterday we took profit on WES in our Income Portfolio to increase cash levels, however worth remembering this is now a consumer discretionary stock after spinning out Coles with Bunnings making up more than 60% of their earnings. Simply,  the risk / reward has shifted us into sell mode around $55 and we are comfortable with our move – a dip back under $50 and we could easily see ourselves re-enter.

WES
MM is now neutral WES
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Wesfarmers (WES)
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