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Fly News Breaks for January 8, 2019
NTRI, WTW
Jan 8, 2019 | 09:08 EDT
Craig-Hallum analyst Alex Fuhrman lowered his price target for WW to $80 from $120 as Google searches appear to be down sharply year over year in December and first few days In January. Most major diet brands appear to be experiencing declining year over year Google searches to start the year, with Hydroxycut and Nutrisystem's (NTRI) South Beach Diet standing out with positive year over year growth in searches, he contends. Regarding WW, while the sharp decline in Google searches is disappointing, Fuhrman believes there are several factors that could be materially skewing the data lower, including name change from Weight Watchers to WW, shift toward digital marketing, and invite-a-friend promotion. The analyst reiterates a Buy rating on WW shares.
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