Life Time Group initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Life Time Group (LTH) with an Outperform rating and $29 price target The company offers a “unique proposition,” providing upscale athletic country clubs with massive footprints in suburban areas to smaller formats in highly dense metropolitan cities targeting high-income families, the analyst tells investors in a research note. The firm thinks Life Time’s shift from an asset heavy strategy to one that is asset light through a series of sales and lease backs will allow it to obtain a much higher return on invested capital over the long term.