Life Time Group (LTH) CFO Retirement 'Surprising and Unfortunate' - Guggenheim

Guggenheim analyst John Heinbockel reiterated a Buy rating and $18.00 price target on Life Time Group Holdings Inc (NYSE: LTH) following President and CFO Tom Bergmann’s retirement, which they called " surprising and unfortunate development."

The analyst commented, "e regard President and CFO Tom Bergmann’s retirement as a surprising and unfortunate development - the shares’ ~5% decline (vs the S&P 500's 67 bps decline) indicates that investors agree with this assessment. However, we believe this move reflects a natural desire to step back from a demanding seven-day-a-week position and perhaps eventually pursue a new challenge. Hence, the optics are less important than the important operational role and strategic sounding board he has served as for the past six years. However, with CEO Bahram Akradi increasing his operational involvement, a new, very capable CFO having been brought on board, and key strategic initiatives in place, we stay Buy rated with an $18 PT, ~14x 2023E EBITDA."

For an analyst ratings summary and ratings history on Life Time Group Holdings Inc click here. For more ratings news on Life Time Group Holdings Inc click here.

Shares of Life Time Group Holdings Inc closed at $12.33 yesterday.

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