ASX:TWEBeverage
The Bull Case For Treasury Wine Estates (ASX:TWE) Could Change Following Dividend Halt And US Write-Down
Recently, UBS upgraded Treasury Wine Estates to Neutral from Sell while cutting its earnings outlook, as the company cancelled its dividend and announced a near A$1.00 billion pre-tax write-down on its US winemaking and premium brand assets following a A$1.30 billion California vineyard acquisition.
This combination of higher debt, halted shareholder payouts and substantial asset impairments has sharpened market attention on Treasury Wine Estates’ balance sheet resilience and business mix...