Treasury Wine’s U.S. Business May Prove Fruitful: BofA
Treasury Wine’s U.S. Business May Prove Fruitful: BofA
Jul 11, 2012 6
(WSJ) - Bank of America Merrill Lynch analysts like Australia’s Treasury Wine Estates for its exposure to the U.S. wine market, one of only a handful of wine-growing regions currently recording growth.
According to BofA Merrill Lynch, the U.S. wine industry continues to grow at or about 5% per annum thanks to increased per capita consumption and the fact that consumers are buying higher-priced wines.
The broker reckons the wine company — which demerged from Foster’s Group over a year ago – can double earnings from its U.S. business if it can implement a stable and focused management team.
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