Weight Watchers' stock tumbles after downgrade to rare underweight rating at J.P. Morgan [MarketWatch]
Willis Towers Watson Public Limited Company - Ordinary Shares (WTW)
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Source: MarketWatch
Weight Watchers' stock tumbles after downgrade to rare underweight rating at J.P. Morgan Shares of WW WTW, -4.72% formerly known as Weight Watchers International Inc., tumbled 6.2% in premarket trade Tuesday, after J.P. Morgan analyst Christina Brathwaite turned bearish the weight management and wellness company for the first time, citing continued user declines. Braithwaite cut WW to a rare underweight rating, after cutting it to neutral from overweight on Jan. 11. Only 14% of the companies J.P. Morgan covers globally are rated underweight. Braithwaite also cut slashed her stock price target to $25 from $37. She said her downgrade comes as her research suggests daily active users (DAU) on that WW app keep contracting "in the most important period of the year." Since the downgrade in January, Braithwaite said DAU trends have worsened, app reviews have become increasingly negative and competitors Noom and Diet Doctor have continued to gain traffic share. The stock has plunged 71% si
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