Morgan Stanley Sees More Growth Potential in Wine

Dear Client:Does wine have better future growth prospects than beer and spirits? Morgan Stanley thinks so after studying results from a consumer survey and wholesaler survey, along with GuestMetric’s on-premise data. In their survey, the majority of wine, spirits and beer wholesalers agreed that the wine and spirits categories offer solid, long-term growth but promotions, demand and inventories in Q4 have brought short-term risks particularly in spirits.In a note to clients, Morgan Stanley executive director Dara Mohsenian acknowledges that wine