TWE – Morgans rates the stock as Add

Morgans assesses the investor briefing showcased the quality of management as well as the world-class viticultural assets. Vintages 2016-2019 are expected to underpin strong earnings growth out to FY22.

FY24 will benefit from the expansion of luxury wine making infrastructure in South Australia. Morgans maintains an Add rating and raises the target to $20.60 from $19.19.

The broker observes the company continues to invest in the business while still delivering solid double-digit earnings growth and outperforming peers on most metrics.

Sector: Food, Beverage & Tobacco.

Target price is $20.60.Current Price is $18.64. Difference: $1.96 – (brackets indicate current price is over target). If TWE meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →