Planet Fitness price target lowered to $70 from $72 at Macquarie

Macquarie lowered the firm’s price target on Planet Fitness to $70 from $72 and keeps an Outperform rating on the shares. The company reported mixed Q4 results, with top and bottom-line beats, but a “muted” guidance on softer franchise units and compares, the analyst tells investors in a research note. The firm says the CEO and CFO search likely won’t help near-term franchisee confidence.