WW International (NASDAQ: WW), formerly known as Weight Watchers International jumped by more than 18% in pre-market trading on Tuesday after the company which offers weight loss and maintenance services closed its $132 million acquisition of Sequence, announced back in March. Sequence is a company that offers treatment for weight loss.
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Following the news, Goldman Sachs analyst Jason English upgraded the stock to a Buy and raised the price target to $13, up from $3.80 earlier. English’s price target is the highest on the Street and implies an upside potential of 215.5% at current levels.
Giving his rationale for the upgrade, the analyst commented, “With the now completed acquisition of Sequence, WW will begin to offer a pharmaceutical-based clinical subscription service that it can integrate with its legacy behavioral-based weight management offering.”
Besides the analyst, other analysts remain sidelined about WW stock with a Hold consensus rating based on two Buys, three Holds, and one Sell.