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October 7th - Treasury Wine Estates (TWE.AX) shares recovered a 1.8% loss in afternoon trading and were basically flat. Jefferies maintained a "Hold" rating on TWE and an AUD 6 target price, stating that although excess inventory and rising costs in the US market are limiting upside potential, TWE’s underperformance relative to the broader market has been narrowing. The brokerage expects a 1.2% increase in EBIT for fiscal year 2027 and notes that the US wine market is showing moderate growth in the higher price segment. Jefferies mentioned that the price segment below $20 still faces significant challenges and emphasized that low-priced wines continue to face pressure. The brokerage pointed out that competitor Constellation Brands’ (STZ.N) wine and spirits business saw organic sales increase by 17.2% in the second quarter, with sales to retailers up by 10.2%. TWE shares have risen 6.1% year-to-date. (For the convenience of non-English speakers, Reuters offers automated translations of its report into a number of other languages. Automated translation may contain errors or may not capture the intended context, and Reuters does not guarantee the accuracy of this text. It is provided only for convenience, and Reuters is not liable for any damage or loss caused by the use of automated translation.)