BUY HOLD SELL - TWE
Treasury Wine Estates – Bottoms up!
Why look at Treasury?
After having a charmed run and enjoying market darling status for the best part of three years, TWE wobbled in 2018 and has pulled back sharply from the yearly high.
The company has also made the news a number of times, often for the wrong reasons.
There were calls from Chinese retailers of oversupply, demand issues, and heavy discounting, whilst there have also been major concerns about oversupply in the US.
Whilst it is some time ago, we should not forget that in 2013 TWE literally tipped around $35m of wine down the drain as part of a $160m write-down, due to oversupply Stateside.
They simply got it wrong in terms of demand, to the tune of...Continue Reading