WeWork India rises as Jefferies reiterates 'buy', cites attractive valuations
BUZZ-WeWork India rises as Jefferies reiterates 'buy', cites attractive valuations ** Shares of WeWork India Management WEWO.NS up 3.6% at 713.9 rupees
** Jefferies reiterates WeWork India's stock rating at "buy", with PT at 900 rupees
** Says the company's 9 million square feet footprint has made it among the largest office occupiers, with fast-expanding demand and preferential supply treatment by landlords
** Leveraging global operating experience, the firm combines a design edge with strong tech-enabled services to capture premium demand from higher-end GCCs and corporates, the brokerage says
** Jefferies believes the company's strong network of quality product helps it plan for speculative locations, which achieve profitability at ~55% occupancy
** Stock has attractive valuations at 11.1x FY28E EV/EBITDA, brokerage says
** YTD, stock up 17.1%
(Reporting by Mridula Kumar in Bengaluru)
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