OneSpaWorld initiated with a Buy at Jefferies

Jefferies initiated coverage of OneSpaWorld (OSW) with a Buy rating and $30 price target The company “sits at the intersection of durable cruise industry growth, rising prioritization of wellness, and a monopoly-like market position in outsourced maritime wellness services,” the analyst tells investors in a research note. The firm says OneSpaWorld provifes a “rare combination” of growth, defensiveness, and free cash flow durability. Jefferies likes the company’s “highly visible” sales growth, accelerating ship-level productivity, and “best-in-class” cash conversion,