15/08/2024 17:01

Treasury Wines (TWE) $12.35

TWE +2%: Solid result for TWE, pretty much inline with expectations with their US business outperforming.

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05/06/2024 16:41

Treasury Wines (TWE) $11.99

TWE +5.27%: the wine producer and distributor is hosting an investor day at their newly acquired DAOU site in Pao Robles, California, hoping to alleviate some concerns that have followed the $US900m acquisition. In the detail, the company reaffirmed FY24 guidance of mid to high single-digit EBITS growth, broadly in line with consensus expectations of ~6.5% growth.

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23/05/2024 09:53

Treasury Wine Estates Ltd (TWE) $11.57

We discussed TWE over recent months regarding China's removal of its painful wine tariffs, which in the short term has proven to be a classic case of buy on rumour, sell on fact.

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03/04/2024 09:19

Treasury Wine Estates Ltd (TWE) $12.79

Chinas Ministry of Commerce announced last week they intended to remove one of its last major sanctions on $20 billion of Australian exports which were imposed when relations soured under the Morrison government – tariffs on Australian wine finally dropped to zero at the end of last month. Penfolds are extremely well positioned to leverage off the good but largely anticipated news with the brand remaining prominent in China, as they kept more than 100 staff in the country even after Beijing slapped the huge 175 per cent tariffs on its Australian exports.

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23/02/2024 09:48

Treasury Wine Estates Ltd (TWE) $12.15

TWE rallied +3.1% on Thursday as the winemaker moved from strength to strength following last week’s solid result, which contained no hidden surprises; in fact, it came in a touch above expectations following a beat on revenue.

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15/02/2024 16:48

Treasury Wines (TWE) $11.43

TWE +3.25%: A good result relative to low expectations today with some concern leading into it that downgrades could be on the offing after they acquired Daou at the end of October. That wasn’t the case with earnings (EBITs) coming in at $289.8m a shade above consensus of $288.7m on better-than-expected revenue ($1.28bn vs $1.25bn exp).

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02/02/2024 09:07

Treasury Wine Estates Ltd (TWE) $10.81

This week saw Wine Australia announce that Dec-23 export growth had improved significantly against the previous quarter; strong demand from Hong Kong was the standout, with the over $10 a bottle category remaining stronger than the discount end. It was noted that Hong Kong is a major trading hub, and some of the wine may be shipped to other Asian markets.

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22/12/2023 09:02

Treasury Wine Estates Ltd (TWE) $10.86

TWE has struggled through 2023 even as local relations with China improve. Their acquisition of DAOU Vineyards and subsequent equity raising has weighed on the stock of late, but we like its outlook in the medium term.

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07/11/2023 09:10

Treasury Wine Estates Ltd (TWE) $11.51

TWE closed up +4.3% on Monday as the feedback from Prime Minister Albanese’s visit to China became increasingly encouraging. The AFR led with China hails “new starting point - Albanese, Xi stabilise relations”, very different headlines to those created by Scott Morrisons' less diplomatic approach to the world’s 2nd largest economy.

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01/11/2023 09:01

Treasury Wines Estates (TWE) $11.98

On Tuesday, TWE announced the $1.6bn acquisition of upmarket Californian unlisted wine group Daou Vineyards, another foray into the US, which some would argue hasn’t been a great hunting ground for the winemaker over the last decade – 86% of Daou’s trade is in the US. This is a reasonably bold play by CEO Tim Ford; considering its chequered history in the US, we admire his belief and, unlike many, the confidence to take the hard/bold calls, let's hope he’s right!

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