Citigroup Downgrades Treasury Wine Estates (OTCMKTS:TSRYY) to Strong Sell

Treasury Wine Estates (OTCMKTS:TSRYY) was downgraded by stock analysts at Citigroup from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. 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. 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. Finally, Jefferies Financial Group lowered Treasury Wine Estates from a “strong-buy” rating to a “hold” rating and set a $5.20 target price for the company. in a report on Wednesday, December 17th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.20.

Treasury Wine Estates Stock Performance

Shares of TSRYY opened at $3.34 on Wednesday. The company’s fifty day moving average is $3.63 and its 200-day moving average is $4.40. Treasury Wine Estates has a 12 month low of $3.17 and a 12 month high of $7.30.

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.