As previously reported, Craig-Hallum analyst Alex Fuhrman upgraded WW (WW) to Hold from Sell with a price target of $10, up from $4. The firm says it underestimated investor interest in GLP-1s. Novo Nordisk (NVO) and Eli Lilly (LLY) have added a quarter of a trillion dollars to their combined markets caps in the last six months, and given the potential new GLP-1 medications like Ozempic and Mounjaro have to transform the treatment of obesity and related conditions, GLP-1s are starting to look like healthcare’s artificial-intelligence moment as investors envision a healthcare landscape that could look very different in five years. As it relates to WW, Craig-Hallum thinks progress will take time, but the opportunity could be significant. As a trusted market leader in weight management solutions, Weight Watchers has an opportunity to play a key role in the new, GLP-1 driven landscape for weight loss.
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Read More on WW:
- Davidson says Oprah panel legitimized drug treatment for obesity
- Weight Watchers call volume above normal and directionally bullish
- BCBSM modifying weight loss drug coverage to require ‘lifestyle modifications’
- Goldman says BCBSM modifications to GLP-1 coverage positive for WW
- WW says Sequence being impacted by GLP-1 supply constraints
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