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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.  We remain optimistic towards TWE based on our ongoing confidence in its Penfold distribution & pricing growth, plus the positive risk from the potential removal by China of duties on Australian wine, which we don’t believe is reflected in the share price.

TWE
MM is long and bullish TWE
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Treasury Wine Estates Ltd (TWE)
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