The Wesfarmers Ltd (ASX: WES) share price will be one to watch in the coming week. The S&P/ASX 200 Index (ASX: XJO) giant is set to release its financial year 2022 earnings next Friday.
Could now be the time to jump in on the retail-focused conglomerate behind such businesses as Bunnings, Kmart, Officeworks, and Priceline?
At Friday's close, shares in Wesfarmers were going for $48.92 apiece, 0.74% higher than their previous closing price. Meanwhile, the ASX 200 lifted 0.02% on Friday.
So, what are brokers forecasting for the Wesfarmers share price? Let's take a look.
Do Wesfarmers shares boast 20% upside ahead of earnings?
The Wesfarmers share price could be set for growth, with broker Morgans tipping a potential 20% upside.
The broker likes the company's offerings, which it dubbed "one of the highest quality retail portfolios in Australia", my Fool colleague James Mickleboro reports. It also thinks highly of Wesfarmers' management team.
And it's backed up its praises with equally high expectations. The broker has a $58.40 price target on Wesfarmers' shares.
It has also tipped the company to pay out $1.65 per share of fully franked dividends in financial year 2022.
That presumably means it expects Wesfarmers' final dividend to come in at 85 cents after the company handed investors 80 cents per share in March.
Looking further into the future, Morgans predicts Wesfarmers will pay out $1.81 per share in dividends this financial year.
The optimistic outlook likely comes as a relief for embattled investors. The retail conglomerate's stock has tumbled 18% since the start of 2022. It has also dumped 26% over the last 12 months.
For comparison, the ASX 200 Index has also fallen 6% year to date and 5% since this time last year.
