Xponential Fitness price target lowered to $30 from $32 at Guggenheim

Guggenheim lowered the firm’s price target on Xponential Fitness to $30 from $32 and keeps a Buy rating on the shares. Although Xponential management affirmed 2023-2024 consensus expectations, actual and implied 2025-2026 top-line guidance was “disappointing,” so the mid-teen’s selloff around the inaugural analyst day “was not especially surprising to us,” the analyst tells investors. While the firm now embeds “a more conservative” EBITDA multiple to arrive at its price target, it argues that the pullback “has created a more attractive entry point looking out to 2024 and beyond.”