2357 GMT - Treasury Wine Estates's turnaround gets a vote of confidence at Morgans. Analyst Belinda Moore reiterates a buy rating on the stock, telling clients in a note that she thinks the Australian vintner's FY 2027 guidance will turn out to be conservative. She still sees the period as a transitional year while Treasury Wine rebalances inventories, but points out that this is progressing ahead of expectations and that depletions growth is strong across key brands. Moore anticipates a return to solid earnings growth in FY 2028, with a strengthened balance sheet supporting the resumption of dividends. Morgans lifts its target price on the stock 23% to 7.30 Australian dollars. Shares are at A$5.77 ahead of the open.