Cowen Remains Bullish on Planet Fitness (PLNT) Following 2Q EPS Beat

Cowen reiterated an Outperform rating and $21.00 price target on Planet Fitness (NYSE: PLNT) following the company's 2Q15 earnings report. PLNT reported adjusted EPS of $0.13, ahead of consensus estimates of $0.12. FY15 revenue guidance of +12-13% implies a significant slowdown in revenue growth in 2H relative to the 30% growth achieved in 1H15.

Analyst Jerry Gray commented, "PLNT beat Q2:15 sales and EPS estimates, driven by strength across all operating segments. Second half guidance, which implies a modest slowdown in top-line growth, looks conservative given continued momentum into 2H and potential for continued share gains. We reiterate our $21 price target and would remain buyers of PLNT with shares trading at a 6% FY16 cash flow yield."

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 $18.50 yesterday.

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