1749 ET - Slowing sales growth of DAOU-branded wines could threaten owner Treasury Wine Estates' annual earnings guidance, Citi analyst Sam Teeger warns. He points out that DAOU's 8% sales growth over the four weeks through Nov. 30 is down from 10% and 12% over the two prior four-week periods, and is the lowest rate of growth he has seen from the California brand for several years. He concedes that this may be related to a change in distributor, but tells clients in a note that the decline in Treasury's total Americas sales was twice that of the market average. Citi has a buy rating and A$12.97 target price on the stock, which is at A$11.95 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 10, 2024 17:49 ET (22:49 GMT)
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