Woolworths – Buy Signal

We continue to like WOW as a low risk income play in client portfolios. Our Algo Engine generated a recent buy signal in Woolworths and the stock is held in our top 20 and top 50 model.

Price target of $27. Investors may choose to add a covered call to boost the cash flow.

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1Q18 sales update today shows growth in customer transactions driving Australian Food comparable sales growth for the quarter of 4.9%.

Strong double-digit online sales growth in both Australian and New Zealand Food assisted by the rollout of Pick up to all Woolworths and Countdown supermarkets.

Solid sales growth in Endeavour Drinks, with the sales performance of BWS a particular highlight.


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