JPMorgan analyst Christina Brathwaite initiated coverage of Weight Watchers International with an Overweight rating and $105 price target. The shares closed yesterday up $1.55 to $86.90. Management has repositioned the company for "outsized growth" by revamping its points program, significantly improving the mobile platform, and recruiting pivotal social media influencers, Brathwaite tells investors in a research note. She believes continued investments in these areas will fuel mid-teens sales growth and 20%-plus earnings growth. Brathwaite also sees continued share upside driven by positive earnings revisions and multiple expansion and a "clear pathway" for Weight Watchers to achieve its $2B-plus 2020 revenue target.