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Fly News Breaks for September 6, 2018
WTW
Sep 6, 2018 | 08:15 EDT
DA Davidson analyst Linda Bolton Weiser is keeping her Buy rating and $143 price target on Weight Watchers, saying the 5% stock price decline yesterday makes it "particularly attractive" given the expectations of double-digit revenue growth in the next two years. Weiser says the stock is suffering from some "unfavorable optics" like the August 15th block sale of 6M shares of Artal Luxembourg's holding as well as the sale of 131K shares by the company CFO disclosed yesterday that followed recent stock sales by several board members. The analyst contends however that the private equity holder still owns a "meaningful" 22% stake while the board members selling the stock were the ones who bought around $10 per share 2 years ago.