Jefferies starts WeWork coverage with buy call, says 5 tailwinds could push shares 30% higher
[hfe_template id='11223']
[ad_1]
WeWork India shares climbed as much as 7.8% higher on Tuesday to Rs 661.95 after Jefferies initiated coverage with a buy rating and a target price of Rs 790, arguing that the country’s largest flexible workspace operator is stepping into a multi-year growth cycle powered by five structural tailwinds. The brokerage said the company’s premium positioning, scale, and cash-generating model give it a forward outlook robust enough to support gains of 29% from the last closing price of Rs 614. Jefferies described the company as a “category-defining leader” in India’s fast-expanding flexible workspace market. The brokerage expects WeWork India to deliver a 22% revenue CAGR and 28% IGAAP EBITDA CAGR between FY25 and FY28, underpinned by sustained demand for premium flex offices and continued operating leverage. 1. Category-defining leader Jefferies highlighted that WeWork India is the largest flexible office operator in the country by revenue, ...