I think Mstars target was $13.71 - please let me know if that is wrong. - From DJ news this morning FWIW
DJ Treasury Wine Share Price Leaves Little Room for Error -- Market Talk
2253 GMT [Dow Jones] Morningstar applauds Treasury Wine's strategy of focusing on premium
wine, but the research firm says the company's shares, which closed Wednesday at A$16.91,
are far too expensive. Treasury isn't the only winemaker focusing on premium wine and
it's a tough business--consumers can easily switch between wine brands without any cost.
While upper-tier wine is a true luxury good with substantial pricing power, Morningstar
notes that most wine consumers are "more devoted to price than label." And although China
has been a big bright spot, recent issues with imports underscore the challenges of
further growth in that market. Morningstar's price target is A$10.50.
(
[email protected]; @Mike_Cherney)
(END) Dow Jones Newswires
June 06, 2018 18:54 ET (22:54 GMT)
Copyright(c) 2018 Dow Jones & Company, Inc.
Thursday 07 June 2018 08:54:00.000 AEST
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