BUZZ-Jefferies sees Chinese tariff removal to be positive for Treasury Wine Estates

Reuters03-13

** Analysts at Jefferies see upcoming Chinese tariff removal to be a material positive for Treasury Wine Estates

** Australia's top winemaker said on Tuesday China's Ministry of Commerce released an interim proposal to remove tariffs on Australian wine

** "While the interim determination on removing tariffs is not final, we believe the final determination in coming weeks is unlikely to be any different" - Jefferies

** Brokerage adds that tariff removal will elevate growth as supply is built, facilitate pricing power and improve earnings predictability for TWE

** 12 of 15 analysts rate the stock "buy" or higher, two "hold" and one "sell"; their median PT is A$13.10 – LSEG data

** Stock up 13.9% YTD, based on last close

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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