Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
WeWork India’s stock climbed nearly 8% on Tuesday after global brokerage Jefferies began coverage with a positive view on the company and expectations of strong medium-term growth in the flexible workspace market, according to Mint.
Strong Start Backed by New Analyst Coverage
Jefferies initiated coverage with a “buy” call and set a price target equivalent to about $9.50, implying roughly 29% upside from the previous close. The firm highlighted WeWork India’s position as the country’s largest flexible workspace operator by revenue and noted that the sector is expanding much faster than traditional office leasing.
Revenue and Profit Growth Outlook
The brokerage expects WeWork India’s revenue to grow at an annual pace of about 22% between FY25 and FY28, with EBITDA rising even faster at around 28% annually.
A base-case scenario from Jefferies assumes slightly more conservative gains — around 20% revenue growth and 22% EBITDA growth — supported by steady demand, higher pricing, and efficiency improvements.
Jefferies’ valuation is based on a 15x forward EV/EBITDA multiple for September 2027.
Bull and Bear Scenarios
A stronger-than-expected shift toward flexible offices, better occupancy, and higher revenue per member could lift the stock toward about $10.80. However, weaker office demand, slower expansion of seating capacity, or increased competition could pressure occupancy and pricing, potentially pulling the stock down toward about $7.85.
