0041 GMT - Wesfarmers' acquisition of Australian Pharmaceutical Industries makes healthcare the next growth area for the retail and industrial conglomerate, UBS says. The investment bank sees the move as part of a strategy to focus on long-term growth, with low-cost access already secured to large markets in lithium, online marketplaces and trade hardware. Wesfarmers will bring capital and skills in retail, distribution and data to the growing health, wellbeing and beauty industry, UBS says. It thinks API's membership program will be an attractive addition to Wesfarmers' existing data and digital operations. UBS maintains a neutral rating and A$62.00 target price on the stock, which is down 0.2% at A$59.92. (stuart.condie@wsj.com; @StuartLCondie)
Wesfarmers' API Acquisition Targets Long-Term Growth -- Market Talk
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