** Australia's Wesfarmers WES.AX rises as much as 1.6% to A$84.75, its highest level since Feb 20

** UBS raises 12-month PT to A$84 from A$81, upgrades co's FY26, FY27 EPS estimates by 1.6% and 3.7%, respectively

** Expects earnings from lithium business WesCEF to grow by FY27 due to higher spodumene prices and increased volumes

** Australia's biggest non-food retailer's Bunnings segment aims to be 'capital-light', says UBS

** Expects KMart segment to deliver higher operating earnings growth in the long term

** Citi expects Bunnings business to be positive but flags elements such as housing construction, renovations including others in business could suffer from deteriorating Australian housing market

** FY27 operating earnings to grow by 1.6% for Bunnings, below 5.3% forecast by Visible Alpha consensus - Citi

** Including day's move, stock up 4% YTD