0013 GMT - Macquarie analysts think that investors can afford to be patient for signs that Treasury Wine Estates' recovery is more fundamental. The investment bank's analysts keep a neutral rating on the stock, telling clients in a note that signs on the Australian vintner's turnaround are positive but early. They point out that Treasury Wine needs to maintain strong levels of depletions even when wholesale distributor inventories have been cleared of excess stock. In summary, they say key major initiatives to support a sustainable turnaround still need to be executed over the next two years or so. Macquarie lifts its target price on the stock 12% to 5.50 Australian dollars. Shares are up 2.4% at A$5.91.