Treasury Wine Bulls Stay Cautious on China Sales -- Market Talk

Dow Jones

2025/02/14

0016 GMT - Treasury Wine Estates' bulls at Goldman Sachs think that the Australian producer needs to build market confidence in sell-through rates of its prestige Penfolds brand in China. The GS analysts are cautious on management claims that second-half Penfolds sales are constrained by supply. They tell clients in a note that their checks on retailers have uncovered discounted prices for Penfolds Bin 389, as well as parallel import products heavily discounted relative to official prices. GS keeps a buy rating and A$12.90 target price on the stock, but say more evidence is needed to justify a share-price re-rating. The stock is up 4.4% at A$10.97. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 13, 2025 19:17 ET (00:17 GMT)

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The GS analysts are cautious on management claims that second-half Penfolds sales are constrained by supply. They tell clients in a note that their checks on retailers have uncovered discounted prices for Penfolds Bin 389, as well as parallel import products heavily discounted relative to official prices. GS keeps a buy rating and A$12.90 target price on the stock, but say more evidence is needed to justify a share-price re-rating. The stock is up 4.4% at A$10.97. 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The GS analysts are cautious on management claims that second-half Penfolds sales are constrained by supply. They tell clients in a note that their checks on retailers have uncovered discounted prices for Penfolds Bin 389, as well as parallel import products heavily discounted relative to official prices. GS keeps a buy rating and A$12.90 target price on the stock, but say more evidence is needed to justify a share-price re-rating. The stock is up 4.4% at A$10.97. 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The GS analysts are cautious on management claims that second-half Penfolds sales are constrained by supply. They tell clients in a note that their checks on retailers have uncovered discounted prices for Penfolds Bin 389, as well as parallel import products heavily discounted relative to official prices. GS keeps a buy rating and A$12.90 target price on the stock, but say more evidence is needed to justify a share-price re-rating. The stock is up 4.4% at A$10.97. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TWE.AU":"TREASURY WINE ESTATES LTD"},"translate_title":"财政部葡萄酒多头对中国销售保持谨慎——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"US6M.BOND":1,"US10Y.BOND":1,"US3Y.BOND":1,"TWE.AU":0.9,"US7Y.BOND":1,"US2Y.BOND":1,"US12M.BOND":1,"US5Y.BOND":1,"US30Y.BOND":1},"content_text":"0016 GMT - Treasury Wine Estates' bulls at Goldman Sachs think that the Australian producer needs to build market confidence in sell-through rates of its prestige Penfolds brand in China. The GS analysts are cautious on management claims that second-half Penfolds sales are constrained by supply. They tell clients in a note that their checks on retailers have uncovered discounted prices for Penfolds Bin 389, as well as parallel import products heavily discounted relative to official prices. GS keeps a buy rating and A$12.90 target price on the stock, but say more evidence is needed to justify a share-price re-rating. The stock is up 4.4% at A$10.97. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 13, 2025 19:17 ET (00:17 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}