Xponential Fitness price target lowered to $21 from $23 at Citi

Citi lowered the firm’s price target on Xponential Fitness to $21 from $23 and keeps a Buy rating on the shares following the Q4 report. The company reported better than expected revenue from non-membership-related revenue streams and offered positive commentary on the Lindora acquisition, even as adjusted EBITDA guidance missed expectations, the analyst tells investors in a research note. The firm says Friday’s stock rally “is still a drop in the bucket” for a stock that is down 50% following last year’s “overblown reaction” to the Fuzzy Panda short report and subsequent concerns about the viability of the business. “By definitively demonstrating otherwise, XPOF can continue to chop away at this deficit,” writes Citi.