IWG (LON:IWG) was downgraded by Credit Suisse Group to an “underperform” rating in a research note issued on Tuesday, September 18th. They currently have a GBX 200 ($2.61) target price on the stock, down from their previous target price of GBX 245 ($3.20). Credit Suisse Group’s target price suggests a potential downside of 5.66% from the stock’s previous close.
Several other brokerages have also recently issued reports on IWG. Berenberg Bank lowered their price target on IWG from GBX 240 ($3.14) to GBX 220 ($2.87) and set a “hold” rating on the stock in a research report on Wednesday, August 8th. Peel Hunt lowered their price target on IWG from GBX 300 ($3.92) to GBX 285 ($3.72) and set a “hold” rating on the stock in a research report on Friday, July 6th. Numis Securities restated a “hold” rating on shares of IWG in a report on Wednesday, August 8th. Finally, Royal Bank of Canada cut IWG to an “underperform” rating and decreased their target price for the stock from GBX 220 ($2.87) to GBX 200 ($2.61) in a report on Thursday, August 30th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 218.33 ($2.85).
IWG stock traded down GBX 1.60 ($0.02) during mid-day trading on Tuesday, hitting GBX 212 ($2.77). 5,488,119 shares of the company’s stock traded hands, compared to its average volume of 2,500,000. IWG has a one year low of GBX 188.90 ($2.47) and a one year high of GBX 392 ($5.12).
IWG plc, together with its subsidiaries, provides office outsourcing services in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and the United Kingdom. The company offers virtual office services; 24/7 workspace recovery solutions; mobile and digital self-service solutions; co-working solutions; fully managed offices; networking and knowledge-sharing meetings; and meeting spaces and workshops.
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