** Analysts at Jarden remain positive on Australia's Treasury Wine Estates , reflecting co's medium term multiple upside after sale of commercial business

** Says top spirits maker's re-entry into China and improving outlook in the U.S. will support its stock

** Outside of Penfolds and Americas, the global portfolio is performing to expectations, with the commercial sale seeing good interest — Jarden

** Brokerage forecasts co's earnings to rise by 14% over the next three years

** Says TWE becoming higher growth, less volatile, more brand focused business via ongoing exit from commercial, valued brands

** Stock has risen 8.8% YTD, as of last close

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))