Planet Fitness (PLNT): Solid Beat and Un-Amazonable - Cowen
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Cowen anlayst, Oliver Chen, reiterated his Outperform rating on shares of Planet Fitness (NYSE: PLNT) after the company's 2Q EPS of 17c was 2c ahead of the street with comps better (+7.6% vs. St. +5.9%), driven by volume.
The analyst stated "we like PLNT's prospects for expansion to West Coast + International, underscored by compelling increasing royalty rate in the franchise business, and benefits from Nat'l Ad. Campaign".
The price target goes to $24.00 (from $19.00).
Shares of Planet Fitness closed at $20.33 yesterday.
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