Planet Fitness price target lowered to $65 from $87 at Baird

Baird lowered the firm’s price target on Planet Fitness to $65 from $87 and keeps an Outperform rating on the shares. The firm said they have lower conviction in their rating following the surprise anouncement of its CEO resignation. The move raises several near-term uncertainties, though in their view not enough to ignore the company’s attractive valuation.