Woolworths – Solid Hold – but not a buy
Full year results were in line with expectations if not 2% or 3% better than some forecasts. The food division did better-than-expected with increased margins (up 76bp). Described as solid growth. Some brokers upped their target price ($38.50 to $41.30) most simply left among changed. Some brokers upgraded earnings (3%), others downgraded (2%). They didn’t…