0050 GMT - The impact on Treasury Wine Estates' sales and margin from weaker U.S. premium-brand volumes should be offset by the U.S. dollar's recent appreciation against its Australian counterpart, Goldman Sachs analysts say. While pointing out Nielsen data suggesting that Treasury's premium brands ceded U.S. market share over the 12 weeks to Dec. 28, they call clients' attention to the strength of the greenback. The Australian dollar's slip to about 62 U.S. cents from 66 in early November is positive for both sales and margin, they write in a note. GS cuts its target price by 14% to A$13.00 on a lower valuation of Treasury's Penfolds and U.S. luxury brands but keeps a buy rating on the stock. Shares are down 0.8% at A$10.385. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 19:50 ET (00:50 GMT)
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