Big falls today, page-9

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31/07/17

16:33

Post #: 26191131
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Originally posted by googoogaga ↑

Goldman Sachs report.....

Treasury Wine Estates' strong sales in China have powered the stock 30% higher over the past year and more than triple since 2014. But Goldman Sachs says the shares in the number one importer of wine into China may have got ahead of itself as investors are pricing in 30% year-on-year growth in Asia for 2019-2027, which they think is overcapitalizing the China growth opportunity:

In our view, Treasury is priced for unrealistically high volume growth in China, at peak price points and peak margins. Our analysis of the Chinese wine market suggests that volume growth will slow as the one time benefits of the China-Australia free trade agreement pass and vintage variations limit luxury wine production from Australia. We see pressure on both price and margin in the Chinese market. These are driven by: (1) changing market dynamics; (2) changing patterns of consumption; and (3) a less affluent demographic as Treasury expands its distribution west across China.

The broker made modest cuts to its earnings forecasts for the 2018 and 2019 financial years but lowered its price target to AUD10.50 a share from AUD12 a share.

Treasury Wine Estates last traded down 3% at AUD12.38 a share.

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LOL!

Who's got it right BAML or Goldman's, each way bet...

Someone's bots got an agenda IMO, shake and accumulate or short....

TWE Price at posting: $12.18 Sentiment: None Disclosure: Not Held
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0 Great analysis

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