Beachbody Company initiated with a Buy at Roth MKM

Roth MKM analyst George Kelly initiated coverage of Beachbody Company with a Buy rating and $15 price target. The company has struggled since going public in 2021, but several recently implemented or announced initiatives are likely to bear fruit in fiscal 2024 and drive a material improvement to profitability, the analyst tells investors in a research note. The analyst likes the stock’s risk/reward at current levels.