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WW International , the parent WeightWatchers, could see its stock price more than triple as the diet company’s new foray into obesity medications could result in a major turnaround, Goldman Sachs said. The Wall Street firm upgraded the stock to buy from neutral Monday evening and raised its 12-month price target to $13. The stock skyrocketed 28% in premarket trading Tuesday after closing Monday’s trading at $4.12 apiece. Goldman turned bullish after WW acquired Sequence , a telehealth platform that provides its subscribers with access to GLP-1 medications such as Wegovy and Ozempic. “We believe a catalyst for a turnaround has emerged with its new obesity drug on-ramp solution,” Goldman said. “With this new service offering we expect a cohort of consumers to turn to it for help navigating what is poised to be an increasingly complex field of pharmaceutical solutions.” While patients taking weight loss medications have been successful in losing weight while on the drugs, lifestyle modifications are necessary to maintain weight loss once treatment is stopped. WeightWatchers has struggled over the past year as it attempted to adapt its weight-loss messaging for wellness culture. The stock is 62% off its 52-week high.
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