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Prices & Quotes - UK Markets - IWG (IWG)

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Share Price:
Up 304.60p
Change Today:
Market Cap:

Berenberg raises target price on IWG

By Iain Gilbert

Date: Friday 20 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg upped their target price on serviced offices provider IWG from 350.0p to 425.0p on Friday, stating the group's "capital-light model" looked set to transform its profit and loss standing.
Berenberg said IWG's third-quarter results had shown a continuation of trends observed since the start of the Covid-19 pandemic.

"While cash generation remains impressively strong, revenue performance is worsening progressively, as more customers have reached the end of their contracts while under lockdown, and 'transactional' revenues have been weak with fewer customers actually currently office-based," said the German bank.

However, Berenberg highlighted that despite "near-term pressures", IWG's shares had risen by 40% since the start of the month, principally due to the news of Pfizer's vaccine raising investor hopes that the company can quickly recover to prior levels of occupancy and profits.

"In our view, this recovery will come at some point in 2021. Combined with the ongoing shift to a capital-light model, a growing net cash position and the potential for transformational master-franchise (MFA) deals, there is plenty of potential excitement ahead for IWG," concluded Berenberg, which also reiterated its 'buy' rating on the stock.

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IWG Market Data

Currency UK Pounds
Price 304.60p
Change Today 12.70p
52 Week High 383.60p
52 Week Low 222.60p
Volume 1,235,292
Shares Issued 1,007.36m
Market Cap 3,068.43m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 4
Sell 0
Strong Sell 0
Total 10
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IWG Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 25-Apr-19
Paid 04-Oct-19 24-May-19
Amount 2.15p 4.35p

Trades for 22-Jun-2021

Time Volume / Share Price
14:43 347 @ 304.60p
14:43 553 @ 304.60p
14:42 641 @ 304.50p
14:42 750 @ 304.50p
14:42 356 @ 304.80p

IWG Key Personnel

Chair Douglas Sutherland
CEO Mark Dixon
CFO Glyn Hughes