Australia vintner Treasury Wine claws back early losses as Jefferies sees US woes easing
BUZZ-Australia vintner Treasury Wine claws back early losses as Jefferies sees US woes easing ** Shares of winemaker Treasury Wine Estates TWE.AX erase losses of 1.8% to trade nearly flat in afternoon trade
** Jefferies keeps TWE at "hold" and PT at A$6, saying its underperformance is narrowing even as excess US inventory and elevated costs temper upside
** Brokerage sees 1.2% growth in earnings before interest and tax in FY2027 and says the US wine market is growing modestly at higher price points
** Jefferies says "significant challenges remain in the sub-US$20 price segment," highlighting persistent pressure in cheaper wines
** Brokerage notes rival Constellation Brands' STZ.N wine and spirits organic sales rise 17.2%, with sales to retailers up 10.2% in its second quarter
** TWE shares are up 6.1% year to date
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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