DA Davidson raised the firm’s price target on Planet Fitness to $62 from $51 and keeps a Neutral rating on the shares. The analyst cites the company’s Q3 earnings beat and raised sales and earnings growth guidance despite lowered new store openings target. Changes to re-equip schedules will dampen the Planet Fitness corporate revenue but be designed to preserve gross profit dollars, the firm states, adding however that its neutral stance is due to uncertainty around growth rates in 2024-2025.
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Read More on PLNT:
- Planet Fitness price target raised to $74 from $68 at RBC Capital
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- Planet Fitness (NYSE:PLNT) Flexes Its Muscles with Strong Q3 Earnings
- Planet Fitness, Inc. Announces Third Quarter 2023 Results
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