Shares of WeWork India Management Ltd. will be in focus on Tuesday, November 18, after the Bengaluru-based flexible workspace operator received its first initiation coverage from a brokerage firm.

Jefferies has initiated coverage on WeWork India with a 'Buy' rating and a price target of ₹790, implying a 29% upside from the stock's last closing price.

The brokerage said that WeWork India is the largest flexible workspace operator in India by revenue. With flexible workspace stock growing at a 17% CAGR, nearly twice the pace of traditional office stock, Jefferies believes there is ample room for further penetration.

WeWork India's premium positioning also enables it to command higher average revenue per member (ARPM) and superior margins than peers.

Jefferies expects WeWork India's reven

See Full Page