Why WeWork Was a Stock Market Star Today

Why WeWork Was a Stock Market Star Today

What happened Hardly a popular stock since its initial public offering (IPO) last October, WeWork (WE 15.68%) somewhat unexpectedly shot noticeably higher on Thursday. On the back of a very bullish new analyst note, the co-working space specialist's shares enjoyed a nearly 16% price gain across the day. So what After market hours on Wednesday, Credit Suisse prognosticator Tayo Okusanya initiated coverage on WeWork stock with an unhesitating outperform (read: buy) recommendation. Okusanya's price target is $11 per share, which is nearly double the company's current level. The analyst is impressed by several developments from the specialty real estate company. In his note, he wrote that following an intense cost-restructuring program, "we believe WeWork is well positioned to take advantage of the structural demand drivers for the flex office industry, …
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