Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up – Here’s Why

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY) shares gapped up before the market opened on Monday . The stock had previously closed at $3.6305, but opened at $3.90. Treasury Wine Estates shares last traded at $3.90, with a volume of 3,011 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSRYY. The Goldman Sachs Group initiated coverage on Treasury Wine Estates in a report on Tuesday, June 23rd. They set a “neutral” rating and a $5.20 price target for the company. Citigroup upgraded shares of Treasury Wine Estates from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Treasury Wine Estates to a “hold” rating in a report on Friday, June 5th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $5.20.

Treasury Wine Estates Trading Up 4.3%

The company has a 50-day moving average of $3.26 and a 200-day moving average of $3.15.

Treasury Wine Estates Company Profile

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags’ Leap Family Vineyards, Wolf Blass, Lindeman’s and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster’s Group and traces its heritage back to the founding of Penfolds in 1844.