3 reasons the Wesfarmers (ASX:WES) share price could be in the buy zone

The Wesfarmers Ltd (ASX: WES) share price has been a positive performer over the last six months.

During this time the conglomerate’s shares have risen almost 11%.

Is it too late to buy Wesfarmers shares?

The good news is that it may not be too late to buy Wesfarmers shares according to one leading broker.

A note out of Goldman Sachs reveals that its analysts have upgraded the company’s shares to a buy rating and lifted its price target by 23.8% to $59.70.

This price target implies potential upside of 10.5% over the next 12 months excluding dividends. Including dividends, the broker estimates its shares to provide a potential total return of over 14%.

Why is the Goldman Sachs bullish on Wesfarmers?

Goldman Sachs made the move…