Northland starts Xponential at Market Perform as turnaround will take time

As previously reported, Northland analyst Owen Rickert initiated coverage of Xponential Fitness (XPOF) with a Market Perform rating and $17.50 price target Xponential currently has eight fitness, health, and wellness brands with 3,178 open global studios, notes the analyst. While the firm likes the long-term growth prospects for the fitness franchisor, the company is in the middle of “a multi-prong turnaround that will require some time,” the analyst tells investors.