Morningstar sees demand growth for Treasury Wine; keeps fair value unchanged on shipment drag

Morningstar

23/04/2026 20:42

** Morningstar highlights improving demand for Australia's standalone winemaker Treasury Wine Estates’ TWE.AX labels but cautions that subdued distributor shipments will likely temper revenue over the next two years

** Investment research firm leaves earnings forecasts and A$8.50 fair value of co unchanged after the winemaker reaffirmed forecast for stronger H2 underlying earnings vs H1

** However, says rising consumer demand is hastening destocking and easing shipment curbs, and argues that disciplined destocking preserves brand reputation and pricing power for premium labels, underpinning long-term margins

** Stock down 13.2% YTD

($1 = 1.4019 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))