Citi estimates the prior trading outlook by Treasury Wine Estates could prove conservative, having reviewed data indicating ongoing improvement for US on-premise wine sales.
In addition, the analyst points to feedback suggesting more outdoor dining possibilities will open up over summer.
The Buy rating and $13.78 target are unchanged.
Sector: Food, Beverage & Tobacco.
Target price is $13.78.Current Price is $11.32. Difference: $2.46 – (brackets indicate current price is over target). If TWE meets the Citi target it will return approximately 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
