JPMorgan sees downside to WW revenue guidance and shares

 JPMorgan analyst Christina Brathwaite continues to see risk to WW's 2019 revenue guidance, which she says "embeds trends improve significantly throughout the year." SimilarWeb data indicates that the company's daily active users in the U.S. remains weak with trends now down 39% year-over-year thus far quarter-to-date, which points to North America end of period subscribers down high-teens percent in Q1, Brathwaite tells investors in a research note. She points out that this is worse than the down low single-digit trend she's currently modeling. The analyst continues to see downside to WW shares and reiterates the stock as her top Focus List short idea. Brathwaite has an Underweight rating on the name with a $14 price target.
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