UPDATE: Guggenheim Starts Xponential Fitness Inc (XPOF) at Buy

Guggenheim analyst John Heinbockel initiates coverage on Xponential Fitness Inc (NYSE: XPOF) with a Buy rating and a price target of $16.00.

The analyst comments "We are initiating coverage of Xponential Fitness, the only operator of a scaled specialty fitness brand portfolio, with a BUY rating and $16 PT. Not only is the business well-positioned to grow N-T member and spending share amid rebounding demand and reduced capacity, but the presence of nine leading, but very different, brands each benefiting from critical X Factors around studio openings, programming, and operations lays the foundation for a sustainable 15-20% secular algo. Such growth likely warrants a 16-17X EBITDA multiple, versus the current 13X, in our opinion."

For an analyst ratings summary and ratings history on Xponential Fitness Inc click here. For more ratings news on Xponential Fitness Inc click here.

Shares of Xponential Fitness Inc closed at $11.80 yesterday.

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