Citi says Treasury Wine's AGM update modestly positive versus FY26 result
15/10/2026 24:02
BUZZ-Citi says Treasury Wine's AGM update modestly positive versus FY26 result ** Citi says Treasury Wine Estates' TWE.AX AGM update was modestly positive versus the FY26 result
** Brokerage says Penfolds China 1Q27 depletions were slightly ahead of company expectations, while US power brands and regional heroes continued to show strengthened growth
** Citi notes initiatives delivering an A$40 million ($27.89 million) benefit in FY27, adding this could indicate upside to TWE's A$40 million net cost reduction target for FY27
** Citi rates stocks "buy" and a A$6.95 target price
** Stock up over 8% YTD, as of last close
($1 = 1.4341 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
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Citi says Treasury Wine's AGM update modestly positive versus FY26 result