0102 GMT - UBS lifts its earnings view for Treasury Wine Estates as some headwinds show signs of easing. Its FY26 EPS forecast rises by 1.4% while its FY27 outlook increases by 7.1%, although it remains below consensus expectations. The improved forecasts reflect a less pessimistic view of Treasury Wine's luxury Penfolds brand, partly because demand in China is no longer deteriorating. Analyst Shaun Cousins also says the Americas market remains challenged for Treasury Wine, but he is not as bearish about it as before. UBS raises its price target by 13% to 4.50 Australian dollars a share, and retains a neutral call. Treasury Wine is up 0.5% at A$4.13. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 02, 2026 21:02 ET (01:02 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.