Goldman Sachs Starts Life Time Group Holdings Inc (LTH) at Neutral
Goldman Sachs analyst Kate McShane initiates coverage on Life Time Group Holdings Inc (NYSE: LTH) with a Neutral rating and a price target of $23.00.
The analyst comments "We are initiating on LTH with a Neutral rating as we see it as a solid growth story tied to the recovery of on-site fitness membership and engagement post-pandemic, along with new unit growth. The company's long-term financial algorithm targets 10-15% in annual revenue growth, supported by 2.5-5.0% in SSS plus new unit growth. That said, we think the stock could be limited near-term given its elevated leverage, which remains above peers through 2023 per our model, along with the ongoing uncertainty tied to the cadence of the post-pandemic recovery as membership count and revenues remain below 2019 levels."
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Shares of Life Time Group Holdings Inc closed at $17.34 yesterday.