Beachbody Company initiated with an Outperform at Noble Capital

Noble Capital initiated coverage of Beachbody Company (BODI) with an Outperform rating and $12 price target The firm believes that the company – which has established brands in workout videos and nutritional supplements – is “on the cusp of a swing toward revenue growth” after years of revenue declines, the analyst tells investors. The current GLP-1 phenomenon addresses weight loss, but there is a need to address the adverse effects of muscle loss, nutrition, and overall wellness and Beachbody serves this need, the analyst added.