- Mizuho analyst Vikram Malhotra reiterated a Buy on WeWork Inc (NYSE:WE) with a $9 price target.
- WeWork reported 3Q results, with a headline miss on revenue and EBITDA, but adjusted for FX was more in line.
- A key positive was the company’s plans to exit underperforming locations, reducing the top line but improving profitability.
- In addition, WeWork extended the maturing of specific debt capacity by a year and extended its letter of credit (LC).
- Negatives include stalling the occupancy ramp and delaying its positive cash flow goal, which will require additional capital rises.
- Given these negatives, bears will be concerned near term and will focus on the need for more restructuring and strategic steps, given tech job losses.
- However, the core flex office business can keep outperforming versus core traditional Office, and there is room for additional cost reduction, both likely catalysts.
- He saw WeWork as an undervalued play on changing work patterns.
- Price Action: WE shares traded higher by 9.04% at $2.83 on the last check Friday.
Missfresh Adopts Significant Business Strategy Adjustments; Receives RMB200M Equity Investment Pursuant To Investment Agreement; Highlights Temporary Shutdown Of On-Demand Distributed Mini Warehouse, Says Expects Adjustments To Have Material Impact
Missfresh Limited ("Missfresh" or the "Company") (NASDAQ:MF), an innovator and leader in China's neighborhood retail industry, today announced that it has adopted significant adjustments to its
