Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Here’s Why

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $3.30, but opened at $3.56. Treasury Wine Estates shares last traded at $3.58, with a volume of 22,101 shares changing hands.

Analysts Set New Price Targets

Several brokerages have 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 target price for the company. in a research note on Wednesday, December 17th. UBS Group lowered shares of Treasury Wine Estates from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Royal Bank Of Canada downgraded Treasury Wine Estates from a “moderate buy” rating to a “hold” rating in a research note on Thursday, December 18th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.20.

Treasury Wine Estates Stock Up 7.9%

The business’s 50 day moving average is $3.78 and its 200-day moving average is $4.59.

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.