Jarden positive on Treasury Wine; sees support from China re-entry

Treasury Wine Estates

17/10/2024 22:36

** Analysts at Jarden remain positive on Australia's
Treasury Wine Estates  TWE.AX , reflecting co's medium term
multiple upside after sale of commercial business
    ** Says top spirits maker's re-entry into China and
improving outlook in the U.S. will support its stock
    ** Outside of Penfolds and Americas, the global portfolio is
performing to expectations, with the commercial sale seeing good
interest — Jarden
    ** Brokerage forecasts co's earnings to rise by 14% over the
next three years
    ** Says TWE becoming higher growth, less volatile, more
brand focused business via ongoing exit from commercial, valued
brands
    ** Stock has risen 8.8% YTD, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com))