Lake Street analyst Ryan Meyers initiated coverage of Xponential Fitness with a Buy rating and $38 price target. The overall U.S. boutique fitness space is estimated to be a roughly $24B market and the firm thinks Xponential is "well positioned to benefit from the increased demand for health and fitness in a post-Covid world." Boutique fitness is expected to grow at a 5% compound annual growth rate from 2023-2025, outpacing the growth of traditional fitness clubs, while the company is in the early stages of growing its international business, the analyst added.
Published first on TheFly
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