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Fly News Breaks for April 11, 2019
WTW
Apr 11, 2019 | 06:52 EDT
JPMorgan analyst Christina Brathwaite lowered her estimates on WW saying daily active user data in the U.S. has tracked even worse than her bearish expectations. Daily active users dropped 40% year-over-year during Q1, according to SimilarWeb, Brathwaite tells investors in a research note. By the analyst's math, the data imply WW's North America subscribers are around 2.5M, or down 18% year-over-year, which she says would put "significant pressure" on the company's revenue for the year. The analyst lowered her price target for WW to $12 from $14 and maintains an Underweight rating on the shares. She reiterates the company as her top short pick.
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