Australia's Treasury Wine hits over 4-yr low as Citi cuts to 'neutral'

Treasury Wine Estates

02/04/2025 01:48

** Shares of Treasury Wine Estates TWE.AX fall as much as 2.8% to A$9.350, their lowest level since February 16, 2021

** Winemaker's stock posts biggest intraday percentage loss since March 5, set for fourth straight day of losses

** Analysts at Citi downgrade stock to "neutral" from "buy"

** "We have become incrementally cautious on the company's prospects in the Americas as well as longer term structural headwinds facing the broader alcohol category," Citi says

** 13 of 15 analysts rate the stock "buy" or higher, two "hold"; their median PT is A$13.85 – LSEG data

** Stock down 17.5% this year, including the day's move

 (Reporting by Aaditya Govind Rao in Bengaluru)

 ((Aaditya.govindrao@thomsonreuters.com;))