New Delhi, Nov. 18 -- WeWork India share price surged by nearly 8% during Tuesday's trading session after global brokerage Jefferies initiated coverage on the company with a 'Buy' recommendation, setting a price target of Rs.790, which indicates a 29% upside compared to the stock's previous closing price.

According to the brokerage, WeWork India holds the position of the largest flexible workspace provider in India by revenue. Given that the flexible workspace sector is expanding at a 17% CAGR, nearly double the growth rate of traditional office spaces, Jefferies is optimistic about the potential for further market penetration.

Jefferies projects that WeWork India's revenue will increase at a 22% compound annual growth rate (CAGR) from ...