Weight Watchers (NASDAQ:WW) earns a big upgrade to Buy from Underperform with a $27 price target at Bank of America Merrill Lynch, citing stabilizing subscriber numbers in Q2 and a user-driven 2020 program.
WW shares surged 42% on Wednesday after reporting better than expected Q2 earnings and a strong full-year outlook.
BAML analysts led by Olivia Tong still see risks in WW, including competition from other apps and programs, but “after much volatility and several misfires, we think WW is getting back on track, re-engaging their consumers and better communicating the significant changes made in 2018 that alienated some.”
WW’s average Sell Side Rating is Outperform, its Seeking Alpha Authors Rating is Neutral, and its Quant Rating is Very Bullish.
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