Coles

Coles Reveals Plan to Enter Insurance Industry


Coles (CGJ), one of the leading supermarket companies of Australia is planning to boost its effort to strengthen up its position in the financial services sector by entering the competitive general insurance market. Coles have announced its trialling range of insurance products that includes car and home and content insurance in the Tasmanian stores of the company which might be an opening to go for the broader national market.

Coles (CML) Stock Recommendation


Coles (CML) have retained their Outperform stock recommendation and a 12 month share price target of $15.20 from stock analyst, Macquarie Research Equities (MRE).

Coles Rejects Bid


Coles has an outperform recommendation from Macquarie Research Equities (MRE). The stock analyst believes that the stock has a price floor of around $13.10. Coles (CML) have rejected a revised indicative bid of $15.25 from the KKR syndicate. The syndicate have communicated that this would be the final proposal, and that it will not increase the indicative bid and will withdraw the proposal by 9am on October 23 if the bid does not have board support. It is interesting to see the bid that high - which could be seen as a validation of the forecasts that Coles (CML) have been making.

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