Analyst Simeon Siegel of BMO Capital maintained a Buy rating on Planet Fitness (PLNT – Research Report), with a price target of $100.00.
Simeon Siegel has given his Buy rating due to a combination of factors, including Planet Fitness’s strong financial performance and growth prospects. The company reported better-than-expected revenues and earnings, driven by strong franchise and equipment sales. This positive performance was further supported by guidance for fiscal year 2025, which indicates continued growth in revenues and unit openings, despite slightly lower EPS expectations compared to Street estimates.
Additionally, Planet Fitness’s ability to consistently open new stores and expand its franchise network underscores its long-term growth potential. The company’s history of delivering positive comparable sales growth and its resilience in recovering from the pandemic further bolster confidence in its future prospects. Overall, Siegel sees Planet Fitness as a strong player in the fitness industry, with opportunities for further expansion and market share gains.
Siegel covers the Consumer Cyclical sector, focusing on stocks such as Nike, American Eagle, and Ulta Beauty. According to TipRanks, Siegel has an average return of 4.9% and a 54.18% success rate on recommended stocks.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $125.00 price target.