Vintage Wine Estates sinks on wider loss, Telsey downgrade

Vintage Wine Estates

14/09/2022 12:57

** Shares of wine maker Vintage Wine Estates Inc  VWE.O 
down 23% at $4.25 in premarket trading
    ** Reports Q4 net loss available to common shareholders
widened to $0.24/share from $0.18/shr yr-ago  urn:newsml:reuters.com:*:nL4N30K3BM
    ** Telsey Advisory Group cuts to "market perform" from
"outperform," citing supply chain challenges, deteriorating
macro environment, lack of visibility on underlying financials
    ** "We believe FY23 will be challenging, as Vintage Wine
Estates embarks on a path to sales normalization," says Telsey,
and halves PT on VWE to $6
    ** Avg. rating of 5 analysts is "buy"; median PT is $13 -
Refinitiv data
    ** As of last close, stock had tumbled 53% this year

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))