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JP Morgan sees 46% upside for IWG as flexible workspaces gain mainstream adoption

Analyst Insights
11 Sep 2026
Proactive Investors
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Bullish
JP Morgan sees 46% upside for IWG as flexible workspaces gain mainstream adoption

JP Morgan initiated coverage of IWG PLC, the world's largest flexible workspace provider, with an overweight rating and a price target of 260p by December 2027, implying a 46% upside. The bank highlights the rapid growth of flexible office space leased to corporates, rising from 13% in 2020 to 47% in 2025, supporting strong demand. IWG operates nearly 5,000 locations in over 120 countries and benefits from a capital-light franchise model, with analysts forecasting steady revenue growth and significant cash flow increases through 2030. This outlook is based on earnings growth rather than multiple expansion, suggesting solid long-term value.

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