WW - Can WW International Stock Double? Goldman Sachs Thinks So
2023-04-19 08:30:00 ET
WW International (NASDAQ: WW) , the parent company of WeightWatchers, got a huge 59% boost in its share price on Tuesday. The company benefited from a generous price target set by Goldman Sachs . Here's why the top investment bank is bullish on the weight-loss company, and whether you should consider buying the stock today.
Earlier this week, Goldman Sachs changed its price target for WW International from $3.80 to $13. That's more than three times what the stock was trading at. Another brokerage, D.A. Davidson, set a more modest price target of $9 on Thursday, but it, too, is bullish on the company's prospects. Analyst price targets typically look at a period of 12 months, so in the long run these analysts may expect even more upside for WW International.
The big reason for the bullishness from some analysts is that WW International recently closed on an acquisition for Sequence, which runs a subscription telehealth platform.
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Can WW International Stock Double? Goldman Sachs Thinks So