0035 GMT - Australia's Treasury Wine Estates could get a boost if President Trump follows through on threats to impose hefty tariffs on European wine imports into the U.S., Citi analyst Sam Teeger says. He points out in a note to clients that 80% of Treasury's Americas sales are made in the U.S. Teeger reckons that U.S. consumers could switch as a result of higher prices, while European producers could cut their U.S. advertising. He says that European producers may reallocate wine to other markets such as China, where the impact on Treasury could be limited by the strength of its Penfolds brand. Citi keeps a buy rating and A$13.85 target price on the stock, which is up 3.4% at A$10.12. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 16, 2025 20:35 ET (00:35 GMT)
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