US retail sales data reveals the company has markedly improved sales in July. The improvement came with a strong launch of Beringer Bros. Credit Suisse is impressed with Treasury Wines’ execution under the new distribution model.
Still, the broker concedes it is early days as online reviews, while positive, have not been resoundingly so, and the initial volume purchased was 20% of the size of 19 Crimes.
Outperform and $19.85 target retained.
Sector: Food, Beverage & Tobacco.
Target price is $19.85.Current Price is $17.73. Difference: $2.12 – (brackets indicate current price is over target). If TWE meets the Credit Suisse target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
