Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Down After Analyst Downgrade

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) gapped down before the market opened on Friday after UBS Group downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $3.70, but opened at $3.50. Treasury Wine Estates shares last traded at $3.54, with a volume of 79,227 shares trading hands.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 price target on the stock. in a research report on Wednesday, December 17th. Royal Bank Of Canada downgraded shares of Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a report on Thursday, December 18th. Finally, Citigroup cut shares of Treasury Wine Estates from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Treasury Wine Estates presently has a consensus rating of “Reduce” and a consensus target price of $5.20.

Treasury Wine Estates Trading Down 3.5%

The stock has a fifty day moving average of $3.58 and a 200-day moving average of $4.22.

About Treasury Wine Estates

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.