Planet Fitness price target lowered to $72 from $77 at Macquarie

Macquarie lowered the firm’s price target on Planet Fitness to $72 from $77 and keeps an Outperform rating on the shares. The analyst cites reduced medium-term new unit expectations on persistent headwinds for the target drop. Planet Fitness delivered solid Q3 results and raised most financial guidance while lowering guided installs on persistent headwinds, the analyst tells investors in a research note. The firm says CEO search and headwinds to new units remain.