0211 GMT - Treasury Wine Estates' stock is lacking any near-term catalysts for a re-rate despite what Morgan Stanley analysts say looks like an undemanding valuation. The MS analysts tell clients in a note that shares are trading in line with the Australian producer's post-writedown adjusted net asset value at 14 times fiscal 2026 earnings. They say that management's pivot to inventory management looks necessary, but that the need to address both excess distributor inventory and internal costs probably rule out any near-term improvement. MS cuts its target price 21% to A$5.10 and stays equal-weight on the stock, which is down 4.5% at A$4.755. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 17, 2025 21:11 ET (02:11 GMT)
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