The Treasury Wine Estates Ltd (ASX: TWE) share price struggled through March, but could April see an uptick?
While there was no news from the winemaking and distribution company last month, its share price dipped 0.34%. And it hasn’t improved since.
At the time of writing, the Treasury Wine share price is $11.56, 0.17% lower than it was at the end of March.
For comparison, the S&P/ASX 200 Index(ASX: XJO) rose 6.39% in March. Though, it has dumped 0.39% so far this month.
So, what might the future bring for the Treasury Wine share price? Here’s what brokers are saying could be in store for the creator and purveyor of some of Australia’s most iconic wine brands.
What’s next for the Treasury Wine share price?
The future looks green for the company’s stock, according to brokers at Morgans and Citi.
As The Motley Fool Australia’s James Mickleboro recently reported, the ASX 200 share is on Morgans’ radar. The broker is expecting big things from the company in the future.
It’s particularly impressed by the company’s results for the first half of financial year 2022 and its management team.
Treasury Wine posted around $1.26 billion of revenue and $109.1 million of net profit after tax (NPAT) for the half-year, despite facing what Morgans called “material headwinds”.
“The foundations are now in place for TWE to deliver strong double-digit growth from 2H22 over the next few years,” Morgans continued.
Citi also believes the stock has strong medium-term growth prospects, according to Mickleboro.
He reported the broker’s view is based on the re-opening of Treasury Wine’s higher-margin channels as well as its potential future distribution growth and margin expansion.
Both brokers believe the Treasury Wine share price has an upside of at least 19%.
Citi has slapped it with a $13.78 price target while Morgans is slightly more optimistic at $13.93.
The post Can the Treasury Wine share price have a better month in April? appeared first on The Motley Fool Australia.
Should you invest $1,000 in Treasury Wine right now?
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More reading
- 3 more of the ‘best’ ASX 200 shares to buy this month: Morgans
- The Treasury Wine (ASX:TWE) dividend is being paid today. Here’s the lowdown
- 5 things to watch on the ASX 200 on Friday
- Top brokers name 3 ASX shares to buy today
- Broker names 2 ASX 200 shares to buy with almost 20% upside
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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