JPMorgan analyst Rahul Krotthapalli raised the firm’s price target on Planet Fitness (PLNT) to $100 from $90 and keeps an Overweight rating on the shares. The firm says Planet Fitness has returned 60% since its Q1 of 2024 update. It remains constructive on the company’s long-term outlook, underpinned by improving unit economics matched with accelerating year-over-year store development. However, the stock is testing JPMorgan’s “limits on valuation,” the analyst tells investors in a research note.
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