Citi expects a strong result for FY19, given the premium wine sales into China. Recent data on the wine industry has reinforced the view that growth is likely to be driven by Asia, particularly China.
Meanwhile, the broker notes the company is still losing share in the US. Sell rating and $14.90 price target retained.
Sector: Food, Beverage & Tobacco.
Target price is $14.90.Current Price is $16.50. Difference: ($1.60) – (brackets indicate current price is over target). If TWE meets the Citi target it will return approximately -11% (excluding dividends, fees and charges – negative figures indicate an expected loss).