Having hit headlines last week with a high profile float on the London Stock Exchange (LSE), The Gym Group has stayed in the spotlight, with analysts tipping the shares for success.

The gym chain became the only listed health club operator in the UK when founder John Treharne rang the bell on the (LSE) as the shares began trading under the ticker GYM on 9 November.

Since then, the shares have risen steadily from their 195p starting price to hit highs of 209p. The price had levelled off slightly by yesterday evening (16 November) to 202p, but still reflected solid gains.

The Gym Group’s potential has not been lost on media market tipsters, with several using columns to extol the virtues and ‘latent potential’ of the UK’s budget gym sector.

The Mail On Sunday’s Midas column urged readers to buy Gym Group shares, noting they “still offer plenty of potential” and adding that the chain’s proposition “fits in well with today’s cost-conscious consumer.” These tips were picked up by several other financial news sites and forums.

Speaking to Health Club Management at the time of the listing, Treharne said the IPO had proved attractive to a number of credible investors.

“The calibre of our new shareholders is fantastic, they’re all investors who are in it for the long-term. It shows that health clubs don’t have to be a low level investment,” he said, adding that he will stay in the business as CEO to lead the next stage of growth.

“This IPO secures our future,” he added. “We’ll continue to open between 15 and 20 gyms a year, with a focus on quality and quantity. We want to see the business continue to grow sensibly.”