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Fly News Breaks for November 27, 2018
WTW
Nov 27, 2018 | 08:01 EDT
JPMorgan analyst Christina Brathwaite believes the current valuation of Weight Watchers has "significantly decoupled from its earnings growth reality." The shares currently trade at less than 14 times 2019 earnings estimates despite a 20% earnings growth opportunity in 2019 and 2020, Brathwaite tells investors in a research note after hosting investor meetings with management. The analyst recommends using the recent pullback as a buying opportunity. She keeps an Overweight rating on Weight Watchers with a $70 price target. Brathwaite believes the programs launched to close out this year, combined with plans for a marketing campaign featuring Oprah into the New Year resolution sign up period, should drive a member growth reacceleration in Q1 of 2019.
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