TD Cowen raised the firm’s price target on Planet Fitness (PLNT) to $120 from $110 and keeps a Buy rating on the shares. The firm also named Planet Fitness a Best Idea for 2025. The company remains early in a multi-year turnaround with a “compelling catalyst path which should drive upside to estimates and support valuation expansion,” the analyst tells investors in a research note. TD models fiscal 2025 and 2026 earnings above Street expectations on stronger comps and margins, and thinks its estimates could have upside if Planet Fitness openings accelerate in out years as unit economics improve.
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