Piper Sandler lowered the firm’s price target on Xponential Fitness to $26 from $28 and keeps an Overweight rating on the shares. The analyst sees a “compelling buying opportunity” following the company’s investor day. While a downward move for the stock was warranted given the lighter than expected long-term financial plan, the 15% selloff is overdone, the analyst tells investors in a research note. The firm says Xponential has a strong franchisee base, fairly predictable new studio pipeline, and several drivers of spending improvement.
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