Treasury Wine Estates (OTCMKTS:TSRYY) Shares Gap Up - Time to Buy?

Key Points

• Treasury Wine Estates shares gapped up pre-market from $2.59 to an open of $2.7375 and last traded at $2.7350 on volume of 41,746 shares.
• Several brokers (Citigroup, UBS, Jefferies, RBC) have recently downgraded the stock, leaving a MarketBeat consensus rating of Reduce with a consensus target price of $5.20.
• Technically the stock is trading below its 50‑day ($3.05) and 200‑day ($3.57) moving averages, indicating recent weakness despite the gap up.

Treasury Wine Estates Ltd. (OTCMKTS:TSRYY - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.59, but opened at $2.7375. Treasury Wine Estates shares last traded at $2.7350, with a volume of 41,746 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup downgraded shares of Treasury Wine Estates from a "hold" rating to a "strong sell" rating in a report on Wednesday, January 14th. Jefferies Financial Group downgraded shares of Treasury Wine Estates from a "strong-buy" rating to a "hold" rating and set a $5.20 price objective on the stock. in a report on Wednesday, December 17th. UBS Group downgraded shares of Treasury Wine Estates from a "hold" rating to a "strong sell" rating in a report on Friday, February 6th. Finally, Royal Bank Of Canada cut shares of Treasury Wine Estates from a "moderate buy" rating to a "hold" rating in a research report on Thursday, December 18th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $5.20.

Treasury Wine Estates Price Performance

The stock's 50-day moving average price is $3.05 and its 200-day moving average price is $3.57.

About Treasury Wine Estates

Treasury Wine Estates is a Melbourne‐based global wine company that produces, markets and distributes a broad portfolio of wines. Its portfolio spans premium, luxury and commercial brands, including Penfolds, Beringer, Stags' Leap Family Vineyards, Wolf Blass, Lindeman's and Matua. The company sources fruit from a mix of owned vineyards and long-term grower partnerships across key wine regions in Australia, California and New Zealand.

The business was established in 2011 following a demerger from Foster's Group and traces its heritage back to the founding of Penfolds in 1844.

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