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June 4 (Reuters) - Australia's Treasury Wine Estates TWE.AX said on Thursday it was reviewing its Americas operations as part of a broader push to lift returns as the winemaker bets on three "Power Brands" to drive future growth.

Shares of the company rose as much as 12.6% to A$4.640, their highest since May 25, and were headed for their best session since April 22.

The review "will be music to the ears of many shareholders," Citi analysts said in a note.

Treasury Wine flagged two key challenges facing its Americas business: elevated inventory from recent vintages and excess supply-chain capacity across vineyards, wineries and packaging.

The review comes alongside a wider strategy focused on simplifying its portfolio and prioritising core brands, with Treasury Wine aiming to concentrate resources on "Power Brands" and "Regional Heroes".

The three brands - Penfolds, DAOU, and Matua - account for just 25% of its volume but generate 54% of net sales revenue, the firm said.

Treasury Wine said it would increase investment intensity and focus on them for a while, reducing exposure over time to lower-priority labels by trimming investment.

The company plans to cut its brand portfolio from 76 to fewer than 30 over five years, while targeting cost savings of about A$100 million ($71.33 million) annually from a revamped operating model and a supply chain overhaul.

Treasury Wine expects earnings before interest and taxes and SGARA items to be in the range of A$480 million to A$490 million in 2026, compared with A$770.3 million in the previous year.

($1 = 1.4019 Australian dollars)