Treasury Wines (TWE) +1.31% edged higher after saying that trading conditions remained in line with expectations, consumers are continuing to buy more expensive wines as we witness an ongoing polarisation of wealth. As the company continues to target the resilient luxury wine market, it remains comfortable with its optimistic profit margins in excess of 25%.
- We don’t believe that TWE has potential upside from a reopening of the Chinese market built into its share price – TWE must believe it’s a possibility as they “stockpile” wines in anticipation &/or hope.
MM is long and bullish toward TWE
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