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Dec 14

Xponential Fitness shares rally after Stifel upgrades to buy, says upside is ‘less of a stretch’ By Investing.com – Investing.com

Fitness Comments Off on Xponential Fitness shares rally after Stifel upgrades to buy, says upside is ‘less of a stretch’ By Investing.com – Investing.com

Xponential Fitness, Inc. (XPOF) shares are rallying premarket, up more than 7% after Stifel upgraded the stock to Buy from Hold, maintaining an $18 per share price target.

Analysts at Stifel said that with the stock at current levels, potential upside is "less of a stretch."

They explained that XPOF's share price has fallen 33% during the past week following a negative Bloomberg article and an 8-K filing stating the SEC has requested that the company provide it with certain documents.

"The SEC request appears to relate to calculations of non-GAAP KPIs the company provides in its filings. We believe the reaction is a classic example of shooting first and asking questions later," said the analysts at Stifel.

The "highly franchised" business's valuation reflects "overly negative short-term sentiment" rather than significant fundamental issues, according to the analysts, who said the firm likes XPOF's risk/reward.

They added that if the company's shares were to languish further at the current level, they would not be surprised if management rolled their equity and partnered with another investor to take the company private.

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Xponential Fitness shares rally after Stifel upgrades to buy, says upside is 'less of a stretch' By Investing.com - Investing.com

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