Jefferies started coverage of flexible office space provider IWG on Monday with a ‘buy’ rating and 240p price target as it argued that momentum is building and said it was "time to flex".
International Workplace Group
12 May 2025 09:59:54
Source: Sharecast
"The group is moving through an inflection point in growth for its Managed & Franchise assets, we forecast circa 40% divisional EBITDA CAGR to FY27e, while also accelerating the transition to a capital-light model," the bank said.
It also said that improving free cash flow can drive more than $400m of potential excess cash to be returned to shareholders over FY25-27, which alongside consistent delivery can drive a re-rating in IWG shares.
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