Australia's Treasury Wine Estates rises after asset sale; Citi says debt cut will please investors
22/09/2026 04:50
BUZZ-Australia's Treasury Wine Estates rises after asset sale; Citi says debt cut will please investors ** Shares of Treasury Wine Estates TWE.AX rise as much as 1.5% to A$5.440
** Among top gainers on ASX Staples index .AXSJ, which is down 0.3%
** Citi ("buy", A$6.95 PT) retains positive stance on TWE following sale of Seppelt brand, Great Western Winery and Drumborg vineyard
** Notes sale the first in several planned asset sales that would accelerate debt reduction and please investors
** TWE previously said it would write down inventory, predominantly bulk wine, which it expects to manage through sales into bulk wine markets and internal reclassification.
** 4 of 15 analysts rate TWE "buy" or higher, 11 rate "hold"; median PT A$6.00 – LSEG-compiled data
** YTD, stock up 3.4% vs 0.6% rise in .AXSJ
(Reporting by Shravya Marakini in Bengaluru)
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