Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Still a Buy?

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $3.34, but opened at $3.60. Treasury Wine Estates shares last traded at $3.59, with a volume of 180,542 shares traded.

Analyst Upgrades and Downgrades

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

Treasury Wine Estates Trading Up 7.3%

The firm has a 50-day simple moving average of $3.63 and a 200-day simple moving average of $4.40.

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.