As per MS report....
Chinese 'Peer' Points to Healthy
Results
We believe TWE's Chinese business shares a similar end-customer to Moutai
(covered by Lillian Lou). As Lillian notes here Kweichow Moutai Company Ltd.:
2Q18 Preliminary Results Indicate Robust Sales Growth (16 Jul 2018), Moutaihas
recorded strong 2Q18 sales (June period end) of +43% YoY which represents an
acceleration on recent quarters (4Q17 29%, 1Q18 +31%). Demand for high-end
liquor is strong which we think is a reasonable cross read for TWE's portfolio in
China.
Clearly, the current political malaise will slow TWE's FY18 sales in China, but
given strong end-demand we think there is likely a 'catch-up' in July/August. We
keep OW.
SP target $20...
As per MS report.... Chinese 'Peer' Points to Healthy Results We...
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$11.22 |
Change
-0.030(0.27%) |
Mkt cap ! $9.161B | |||
| Open | High | Low | Value | Volume |
| $11.26 | $11.35 | $11.20 | $5.381M | 478.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 2711 | $11.22 |
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| Price($) | Vol. | No. |
|---|---|---|
| $11.23 | 1993 | 20 |
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| TWE (ASX) Chart |