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Citi says Treasury Wine's AGM update modestly positive versus FY26 result

By Reuters News8 hours ago Updated

** Citi says Treasury Wine Estates' TWE.AX AGM update was modestly positive versus the FY26 result

** Brokerage says Penfolds China 1Q27 depletions were slightly ahead of company expectations, while US power brands and regional heroes continued to show strengthened growth

** Citi notes initiatives delivering an A$40 million ($27.89 million) benefit in FY27, adding this could indicate upside to TWE's A$40 million net cost reduction target for FY27

** Citi rates stocks "buy" and a A$6.95 target price

** Stock up over 8% YTD, as of last close

($1 = 1.4341 Australian dollars)

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