Xponential Fitness price target lowered to $10 from $14 at Baird

Baird lowered the firm’s price target on Xponential Fitness to $10 from $14 and keeps a Neutral rating on the shares after the company announced last week that Anthony Geisler formally resigned as CEO after having previously been suspended. Citing heightened uncertainty stemming from the CEO departure and given the presence of at least two investigations by the SEC and U.S. Attorney’s Office, the firm is applying a lower multiple to arrive at its price target.