1749 ET - Slowing sales growth of DAOU-branded wines could threaten owner Treasury Wine Estates' annual earnings guidance, Citi analyst Sam Teeger warns. He points out that DAOU's 8% sales growth over the four weeks through Nov. 30 is down from 10% and 12% over the two prior four-week periods, and is the lowest rate of growth he has seen from the California brand for several years. He concedes that this may be related to a change in distributor, but tells clients in a note that the decline in Treasury's total Americas sales was twice that of the market average. Citi has a buy rating and A$12.97 target price on the stock, which is at A$11.95 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 10, 2024 17:49 ET (22:49 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.