JP Morgan tips IWG for 46% upside in "the real space race"

What Brokers Say Industry & Services Written by: Ian Lyall 11:33 Fri 11 Sep 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. IWG PLC ( LSE:IWG ) View Price & Profile JP Morgan tips IWG for 46% upside in "the real space race" Published: 11:33 11 Sep 2026 BST JP Morgan has initiated coverage of IWG PLC (LSE:IWG) , the world's largest flexible workspace provider, with an overweight rating and a December 2027 price target of 260p, implying 46% upside. The US bank argues flexible working has moved decisively into the mainstream, citing Savills data showing the proportion of flexible office space let to corporates has jumped from 13% in 2020 to 47% in 2025. IWG, which operates nearly 5,000 locations across more than 120 countries, offers "significant operating leverage" to a structurally supported sector, the broker said. Its analysts forecast revenue growth of 4% a year to 2030, with adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) compounding at 13% annually and cash flow rising 25% a year over the same period. The note, titled The Real Space Race, bases its valuation on an enterprise value to EBITDA multiple, with the bank stressing it is letting earnings growth "do the work" rather than relying on any expansion in the rating. IWG, formerly known as Regus, has shifted in recent years towards a capital-light franchise model, signing up building owners to operate under its brands rather than taking on leases directly. In late morning trading, the shares were up 1% to 180.8p. Continue reading