0314 GMT - Treasury Wine Estates doesn't have enough supply of luxury brands to meet demand now that China has removed tariffs on Australian wine imports, Morgan Stanley says. That gives Treasury scope to raise prices across its Bin and Icon ranges, effective from early FY 2025. In a note, analyst Melinda K Baxter forecasts 6% growth in net sales revenue per case to A$390 in FY 2025. "Implied in our NSR/case growth is a 10-15% increase in Bins and Icons and minimal growth in premium prices," MS says. "We see meaningful upside across FY 2027/28 as increased luxury volumes become available for sale." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 23, 2024 23:14 ET (03:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments