Xponential Fitness price target lowered to $12 from $13 at Piper Sandler

Piper Sandler lowered the firm’s price target on Xponential Fitness (XPOF) to $12 from $13 and keeps a Neutral rating on the shares following “solid” results. Piper acknowledged that efforts are going to take time to materialize and come with uncertainty around forward expectations that could inhibit more meaningful multiple expansion, the firm told investors in a research note. The firm added that it continues to remain on the sidelines until more significant improvements are made.