Planet Fitness price target raised to $110 from $100 at BMO Capital

BMO Capital analyst Simeon Siegel raised the firm’s price target on Planet Fitness (PLNT) to $110 from $100 and keeps an Outperform rating on the shares. The firm cites its recent meeting with the company’s “newish” management regarding pricing, unit openings/economics, member acquisition/retention, marketing initiatives, smoothing seasonality, churn mitigants, and how/why Planet Fitness could win in a potential recession, the analyst tells investors in a research note. BMO believes that the company’s strong underlying business will drive long-term value.