TWE - Morgan Stanley rates as Overweight
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From information gathered at the Australian briefing by the Swisse vitamin business, Morgan Stanley notes suggestions that Australian wine exports were now moving across the border to China far more easily and the bottleneck previously signalled by Treasury Wine could be over.
Morgan Stanley suggests this reduces FY18 earnings risk for Treasury Wine. The broker retains an Overweight rating and $20 target. Industry view: Cautious.
Sector: Food, Beverage & Tobacco.
Target price is $20.00.Current Price is $17.35. Difference: $2.65 - (brackets indicate current price is over target). If TWE meets the Morgan Stanley target it will return approximately 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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