In the wake of a first quarter update, Morgans considers the company is performing well in what it can control, and feels recent share price weakness represents a great buying opportunity. The Add rating is maintained and the target eases to $13.90 from $14.01.
Management is pleased with the underlying performance in the first quarter and is confident in earnings growth, especially as covid restrictions ease across its key premium and luxury wine sales channels.
Sector: Food, Beverage & Tobacco.
Target price is $13.90.Current Price is $11.64. Difference: $2.26 – (brackets indicate current price is over target). If TWE meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
