One year after boss Ian Johnston presented the company's much-heralded wine review to the market, the share price is now stuck in the same trading range, The Australian Financial Review reports.

Foster's presents a conundrum for many because while there is an obvious amount of long-term value in the company - particularly in the beer business - in the near term there are no obvious catalysts for an improvement in the stock price.

If anything, it faces short-term headwinds from the high Australian dollar, poor wine sales in the US and a loss of market share in beer. The Henry tax review is another uncertainty, although it is possible it could prove a positive, particularly if it hurts smaller wine competitors more than Foster's and/or causes a switch to beer.