Treasury Wine Estates (OTCMKTS:TSRYY) Cut to “Strong Sell” at Citigroup

Citigroup downgraded shares of Treasury Wine Estates (OTCMKTS:TSRYY) from a hold rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on TSRYY. Jefferies Financial Group cut shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 target price for the company. in a research note on Wednesday, December 17th. Royal Bank Of Canada lowered shares of Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, UBS Group downgraded shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Treasury Wine Estates currently has a consensus rating of “Reduce” and a consensus price target of $5.20.

Treasury Wine Estates Stock Up 7.8%

Shares of Treasury Wine Estates stock opened at $3.60 on Wednesday. Treasury Wine Estates has a 12 month low of $3.17 and a 12 month high of $7.30. The business has a fifty day simple moving average of $3.63 and a 200-day simple moving average of $4.39.

Treasury Wine Estates Company Profile

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags’ Leap Family Vineyards, Wolf Blass, Lindeman’s and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster’s Group and traces its heritage back to the founding of Penfolds in 1844.