Planet Fitness price target raised to $128 from $123 at Morgan Stanley

Morgan Stanley analyst Stephen Grambling raised the firm’s price target on Planet Fitness (PLNT) to $128 from $123 and keeps an Overweight rating on the shares. Gaming, lodging and leisure fundamentals were “muted” in 2025, with select areas of acceleration skewed to companies serving older, wealthier consumers, the analyst tells investors in a 2026 look ahead note on the group. For 2026, the firm expects “more of the same fundamentally,” with the added wrinkle of rates boosting goods over services, the analyst added.