Treasury Wine's U.S. Writedown 'an Impairment We Had to Have' -- Market Talk

Dow Jones12-02

Jefferies describes Treasury Wine Estates's decision to write down its U.S. assets by at least A$687.4 million as "the impairment we had to have." The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. "While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine," Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

December 01, 2025 17:13 ET (22:13 GMT)

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Max87
12-09
Max87
Makes sense

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Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 17:13 ET (22:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Treasury Wine's U.S. Writedown 'an Impairment We Had to Have' -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTreasury Wine's U.S. Writedown 'an Impairment We Had to Have' -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-02 06:13</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  Jefferies describes <a href=\"https://laohu8.com/S/TSRYF\">Treasury Wine Estates</a>'s decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 17:13 ET (22:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWE.AU","symbol_name":"TREASURY WINE ESTATES LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2588705719","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2588705719","pubTimestamp":1764627180,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Jefferies describes Treasury Wine Estates's decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TWE.AU":"TREASURY WINE ESTATES LTD","BK7505":"食品股","BK7097":"酿酒商与葡萄酒商"},"translate_title":"Treasury Wine在美国的减记是“我们必须进行的减值”——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TWE.AU":0.9},"content_text":"Jefferies describes Treasury Wine Estates's decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 01, 2025 17:13 ET (22:13 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[{"id":508790254399872,"gmtCreate":1765247887465,"gmtModify":1765247891630,"author":{"id":"3566067400555906","authorId":"3566067400555906","name":"Max87","avatar":"https://static.tigerbbs.com/219d0a08ffb0e55100e7065a33ff101a","vip":1,"crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3566067400555906","idStr":"3566067400555906"},"htmlText":"Makes sense","listText":"Makes sense","text":"Makes sense","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/508790254399872","repostId":2588705719,"repostType":2,"repost":{"id":"2588705719","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1764627180,"share":"https://ttm.financial/m/news/2588705719?lang=en_US&edition=fundamental","pubTime":"2025-12-02 06:13","market":"sg","language":"en","title":"Treasury Wine's U.S. Writedown 'an Impairment We Had to Have' -- Market Talk","url":"https://stock-news.laohu8.com/highlight/detail?id=2588705719","media":"Dow Jones","summary":"Jefferies describes Treasury Wine Estates's decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. ","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  Jefferies describes <a href=\"https://laohu8.com/S/TSRYF\">Treasury Wine Estates</a>'s decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 17:13 ET (22:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Treasury Wine's U.S. Writedown 'an Impairment We Had to Have' -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTreasury Wine's U.S. Writedown 'an Impairment We Had to Have' -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-02 06:13</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  Jefferies describes <a href=\"https://laohu8.com/S/TSRYF\">Treasury Wine Estates</a>'s decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 17:13 ET (22:13 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWE.AU":"TREASURY WINE ESTATES LTD","BK7505":"食品股","BK7097":"酿酒商与葡萄酒商"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2588705719","content_text":"Jefferies describes Treasury Wine Estates's decision to write down its U.S. assets by at least A$687.4 million as \"the impairment we had to have.\" The U.S. wine market has been weak, so the writedown was of little surprise, analyst Michael Simotas says. Treasury Wine's carrying value of the assets was also well ahead of Jefferies's valuation. \"While we expect further negative earnings momentum across the divisions, we see value in Treasury Wine,\" Jefferies says. The bank cuts its price target by 5.9% to A$8.00/share. Still, that represents a 38% premium to Treasury Wine's closing price of A$5.78 on Monday. That suggests there could be potential to realize value through a breakup or U.S. exit, Jefferies says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 01, 2025 17:13 ET (22:13 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","news_type":1,"symbols_score_info":{"TWE.AU":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2588705719","isCrawlerRequest":true}