Morgan Stanley analyst Stephen Grambling upgraded Life Time Group (LTH) to Overweight from Equal Weight with a price target of $39, up from $34. The firm expects upside to consensus estimates due to accelerating new club growth. This should drive improving membership trends for Life Time with sustained pricing and in-center spend, the analyst tells investors in a research note. Morgan Stanley sees valuation upside for the shares as Life Time Group posts earnings beats.
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