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

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY)’s stock price gapped down prior to trading on Thursday after Citigroup downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $3.51, but opened at $3.36. Treasury Wine Estates shares last traded at $3.34, with a volume of 7,594 shares.

Several other equities analysts also recently weighed in on TSRYY. Jefferies Financial Group downgraded 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 report on Wednesday, December 17th. Royal Bank Of Canada cut 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 lowered Treasury Wine Estates from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Treasury Wine Estates presently has an average rating of “Reduce” and a consensus price target of $5.20.

Treasury Wine Estates Trading Up 7.8%

The stock has a 50-day moving average price of $3.63 and a two-hundred day moving average price of $4.39.

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.