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Northland starts Xponential Fitness stock with $17.50 target

Northland Capital Markets has initiated coverage on Xponential Fitness, Inc. (NYSE: XPOF) with an "outperform" rating and set a price target of $17.50. This analysis comes as Xponential Fitness, a franchisor of boutique fitness brands, has shown significant growth in its studio count, reaching 3,067 studios by the end of 2023, with plans to expand to 7,000 by 2027. The company's revenue has also seen a notable increase, with a 50% year-over-year growth in the third quarter of 2023. Despite a recent dip in stock price, Northland's positive outlook is based on Xponential's strong brand portfolio, effective franchise model, and potential for continued expansion. However, the report also acknowledges challenges such as high debt levels and the need for sustained consumer interest in boutique fitness.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/top-stocks/northland-starts-xponential-fitness-stock-with-17-50-target/ar-AA1xJR4U ]