Planet Fitness Inc. (PLNT) CEO Optimistic on Tech - Jefferies

Jefferies analyst Randal Konik reiterated a Buy rating and $80.00 price target on Planet Fitness (NYSE: PLNT), after an interview with the CEO. The firm is citing a capital-light, low-risk, defensible model with attractive pricing, a large and growing unit presence, advertising flywheel and expanding affinity network, and enhanced digital strategies that reduce friction.

The analyst stated "We conducted a nearly 40 minute interview with the CEO discussing all things technology at PLNT. Looking ahead, we see the company’s initiatives around all things tech taking this already compelling story to another level by providing the next vector of growth. As a result, the valuation construct and prism through which the market views the company will change leading to multiple expansion and significant share appreciation."

For an analyst ratings summary and ratings history on Planet Fitness click here. For more ratings news on Planet Fitness click here.

Shares of Planet Fitness closed at $59.60 yesterday.

You May Also Be Interested In

• Jefferies Assumes Allied Blenders (ABDL:IN) at Buy
• CIBC Starts Omai Gold Mines (OMG:CN) at Outperformer
• Jefferies Downgrades United Spirits Ltd. (UNITDSPR:IN) to Hold