Treasury Wine's New Bear Worries About Americas Outlook -- Market Talk

Dow Jones

02/06

2340 GMT - A roughly 30% fall in Treasury Wine Estates's share price so far this year doesn't dissuade UBS from downgrading the vintner to sell, from neutral. UBS says Treasury Wine is operating against a significantly challenged industry backdrop. Demand for alcohol, especially wine, has fallen. Treasury Wine's skew toward California in its U.S. business is a headwind, partly because tourism has softened there. Also, its gearing is elevated and an overhang in the near term. UBS expects Treasury Wine's net debt-to-Ebitda to rise to 3.0X at the end of June, from 2.5X six months earlier. It doesn't expect the company to pay any dividends from 1H of FY 2026 through the end of FY 2027. UBS cuts its price target by 9.5% to A$4.75/share. Treasury Wine is down 5.1% at A$5.24/share. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 05, 2026 18:40 ET (23:40 GMT)

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UBS says Treasury Wine is operating against a significantly challenged industry backdrop. Demand for alcohol, especially wine, has fallen. Treasury Wine's skew toward California in its U.S. business is a headwind, partly because tourism has softened there. Also, its gearing is elevated and an overhang in the near term. UBS expects Treasury Wine's net debt-to-Ebitda to rise to 3.0X at the end of June, from 2.5X six months earlier. It doesn't expect the company to pay any dividends from 1H of FY 2026 through the end of FY 2027. UBS cuts its price target by 9.5% to A$4.75/share. Treasury Wine is down 5.1% at A$5.24/share. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 05, 2026 18:40 ET (23:40 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4534","symbol_name":"瑞士信貸持倉","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2609533255","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2609533255","pubTimestamp":1770334800,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2340 GMT - A roughly 30% fall in Treasury Wine Estates's share price so far this year doesn't dissuade UBS from downgrading the vintner to sell, from neutral. UBS says Treasury Wine is operating against a significantly challenged industry backdrop. Demand for alcohol, especially wine, has fallen. Treasury Wine's skew toward California in its U.S. business is a headwind, partly because tourism has softened there. Also, its gearing is elevated and an overhang in the near term. UBS expects Treasury Wine's net debt-to-Ebitda to rise to 3.0X at the end of June, from 2.5X six months earlier. It doesn't expect the company to pay any dividends from 1H of FY 2026 through the end of FY 2027. UBS cuts its price target by 9.5% to A$4.75/share. Treasury Wine is down 5.1% at A$5.24/share. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4534":"瑞士信贷持仓","BK7097":"酿酒商与葡萄酒商","BK4118":"综合性资本市场","LU1863844749.USD":"TEMPLETON EUROLAND \"A\" (USD) INC","TWE.AU":"TREASURY WINE ESTATES LTD","IE0034235071.USD":"PINEBRIDGE EUROPE RESEARCH ENHANCED EQUITY \"A\" (USD) ACC","BK7505":"食品股","BK4588":"碎股","LU3187612489.SGD":"TEMPLETON EUROPEAN INSIGHTS \"A\" (SGDHDG) ACC","UBS":"瑞银","BK4585":"ETF&股票定投概念","LU1829250122.USD":"高盛欧洲核心股票组合Acc","LU1863844665.USD":"TEMPLETON EUROLAND \"A\" (USD) ACC A"},"translate_title":"Treasury Wine对美洲前景的新看跌担忧——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UBS":0.69,"TWE.AU":0.9},"content_text":"2340 GMT - A roughly 30% fall in Treasury Wine Estates's share price so far this year doesn't dissuade UBS from downgrading the vintner to sell, from neutral. UBS says Treasury Wine is operating against a significantly challenged industry backdrop. Demand for alcohol, especially wine, has fallen. Treasury Wine's skew toward California in its U.S. business is a headwind, partly because tourism has softened there. Also, its gearing is elevated and an overhang in the near term. UBS expects Treasury Wine's net debt-to-Ebitda to rise to 3.0X at the end of June, from 2.5X six months earlier. It doesn't expect the company to pay any dividends from 1H of FY 2026 through the end of FY 2027. UBS cuts its price target by 9.5% to A$4.75/share. Treasury Wine is down 5.1% at A$5.24/share. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 05, 2026 18:40 ET (23:40 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}