0041 GMT - Treasury Wine Estates' demonstration of its commitment to the China market should be positive for Australian producer's relations with the country's government, Citi analyst Sam Teeger says. He tells clients in a note that Treasury's deal to acquire a 75% stake in local vineyard improves its longer-term market access prospects and may help mitigate the impact of any future import tariffs. China-produced wines are growing in popularity and the acquisition helps the strategic focus on luxury product, Teeger adds. Citi has a buy rating and A$12.97 target price on the stock, which is up 3.9% at A$11.935. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 19:42 ET (00:42 GMT)
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