UPDATE: Stifel Nicolaus Upgrades Life Time Fitness to Buy Following Sell-Off
Stifel Nicolaus upgraded Life Time Fitness (NYSE: LTM) from Hold to Buy and announced a $50.00 price target.
Stifel Nicolaus noted, "By and large, we believe LTM shares (-18% vs. S&P 500 flat) have been unjustly oversold in the wake of last Thursday's pre-announcement, as we view management's decision to establish 2013 EPS guidance 8% below prior Street consensus ($2.90 vs. $3.17) as largely timing related and not indicative of a breakdown in core fundamental trends. Furthermore, we view current valuation compelling, with shares trading at a 19% discount to their trailing 3-year average forward PE multiple (12.1x vs. 15.0x) based on CY14E EPS."
Life Time Fitness closed at $41.50 on Wednesday.
Latest Ratings for LTM
|Mar 2015||Feltl & Co.||Downgrades||Buy||Sell|
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