Market Overview

UPDATE: Citigroup Initiates Vina Concha y Toro at Buy with $47 PT on Lower Wine Costs

Related VCO
Molson Coors Earnings Preview: EPS and Sales Growth Expected
End-of-Day Market Summary for December 7, 2011

Citigroup initiated its coverage on Vina Concha y Toro (NYSE: VCO) with a Buy rating and a price target of $47.

Citigroup noted, "Our Buy rating is mainly based on our expectation for lower wine costs starting in 3Q12, and these accounts for 45% of total production costs. In addition, we highlight the ongoing consolidation of U.S. subsidiary Fetzer (acquired in 2Q11), and our expectation for higher average selling prices from a rebalancing of the sales mix towards premium wines."

Vina Concha y Toro closed at $38.27 on Thursday.

Latest Ratings for VCO

Jul 2012CitigroupInitiates Coverage onBuy

View More Analyst Ratings for VCO
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (VCO)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga PRO content