Xponential Fitness' Rumble Signs Master Franchise Agreement In Australia - Xponential Fitness (NYSE:XPOF)

Xponential Fitness Inc’s XPOF boxing-inspired boutique fitness brand, Rumble, has recently signed a Master Franchise Agreement in Australia. The financial terms of the deal were not disclosed.
The agreement grants the Master Franchisee, Box X Operations Pty Ltd, a subsidiary of Boutique Fitness Studios Pty Ltd, the opportunity to license at least 100 Rumble studios to potential franchisees in the country over the next 5 years.
Rumble and Box X have also teamed up with former F45 Franchise Owners, The Stafford Brothers, to promote Rumble in Australia and open their own Rumble studios.
Analyst Rating: Raymond James analyst Joseph Altobello double upgraded Xponential Fitness to Strong Buy from Market Perform with a $14 price target (implying an Upside of 24.56%).
Price Action: XPOF shares are trading higher by 9.57% at $11.33 on the last check Wednesday.