Xponential Fitness price target lowered to $12 from $13 at Piper Sandler

Piper Sandler analyst Korinne Wolfmeyer lowered the firm’s price target on Xponential Fitness to $12 from $13 and keeps a Neutral rating on the shares. Xponential is making progress toward their longer term margin targets, with adjusted EBITDA this year to expand ~7 points year over year, but Piper still can’t quite get to management’s ~47% target by 2026, the analyst tells investors in a research note.