As previously reported, Morgan Stanley analyst Lauren Schenk upgraded WW to Overweight from Equal Weight with a price target of $13, up from $5, calling it an “undervalued turnaround story.” WW has “thematic exposure” to GLP-1 obesity drugs given the faster than anticipated traction in its new GLP-1 telehealth brand Sequence in addition to a reaccelerating core business, says the analyst, who describes WW’s recent Sequence acquisition as “a rare scenario where one plus one equals three.”
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