Treasury Wine Cuts Risks, Shakes Bear -- Market Talk

Dow Jones04-22 09:35

0135 GMT - Treasury Wine Estates shakes its bear at Citi on a positive update, including good progress on managing supply-chain-inventory levels. The Australian producer says depletions at its Chinese customers increased by a seasonally adjusted 40% over the Lunar New Year period. One of the investment bank's analysts tells clients in a note that they are particularly pleased to see Treasury Wine suggest that addressing gray-market supply helped drive this growth. Progress on debt refinancing and the reiteration of annual earnings guidance further reduces risks, the analyst writes. Citi raises its recommendation on the stock to neutral from sell, with a A$4.25 target price. Shares are up 15% at A$4.645. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 21, 2026 21:35 ET (01:35 GMT)

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Progress on debt refinancing and the reiteration of annual earnings guidance further reduces risks, the analyst writes. Citi raises its recommendation on the stock to neutral from sell, with a A$4.25 target price. Shares are up 15% at A$4.645. 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The Australian producer says depletions at its Chinese customers increased by a seasonally adjusted 40% over the Lunar New Year period. One of the investment bank's analysts tells clients in a note that they are particularly pleased to see Treasury Wine suggest that addressing gray-market supply helped drive this growth. Progress on debt refinancing and the reiteration of annual earnings guidance further reduces risks, the analyst writes. Citi raises its recommendation on the stock to neutral from sell, with a A$4.25 target price. Shares are up 15% at A$4.645. 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