Maxim lowered the firm's price target on Interactive Strength to $2.25 from $9 and keeps a Buy rating on the shares after the firm published a shareholder letter providing key updates, including that the dispute around the Sportstech acquisition is still in development, with Interactive Strength asserting its contractual rights, focusing on repayment of the outstanding loan, advancing enforcement actions including litigation and a potential auction of the pledged shares. The firm is disappointed with the status of the Sportstech acquisition but pleased to hear about Wattbike's strong performance, which is a testament to Interactive Strength's ability to find suitable targets, execute on its acquisition strategy, and integrate new businesses, the analyst tells investors in a research note.
