2227 GMT - Jarden analysts tell clients that there are "few surprises" in Australia-based vintner Treasury Wine's recent trading update, reiterating their bullish call on the company's stock. They say Treasury's business mix is looking good as it is increasingly skewed to luxury wine brands which are growing. They also expect the planned sale of the company's lower priced commercial portfolio to deliver a net positive cash flow outcome. "The business has medium-term multiple upside via the commercial sale, China re-entry (demand needs to lift) and U.S. growth outlook," the analysts say. They see Treasury's stock rising to A$14.10, from yesterday's close of A$11.73. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
October 17, 2024 18:27 ET (22:27 GMT)
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