Xponential Fitness board addition positive for shares, says Stifel

Stifel analyst Chris O’Cull keeps a Buy rating on Xponential with a $20 price target after the company announced that Jeff Lawrence had been appointed to its board of directors. Xponential will benefit from adding an independent director who has successfully scaled and grown a franchised business globally, the analyst tells investors in a research note The firm says Lawrence “fits the bill perfectly,” having worked at Domino’s for 20 years. Lawrence is well respected among investors, so the news should be a catalyst for shares, contends Stifel.