Planet Fitness (PLNT): Stellar Results Show Off The Company's Business Model Superiority - Jefferies
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Jefferies analyst, Randal Konik, reiterated his Buy rating on shares of Planet Fitness (NYSE: PLNT) after 2Q was another beat and results continue to demonstrate the company's powerful business model. The analyst believes the franchising affords quick and visible growth that is capital light and reduces risk to the company, the royalty rate naturally rises providing opportunity for higher margins, and store economics are attractive giving comfort to investors. With the ability to nearly quadruple its store base along with rising margins and powerful FCF, he views PLNT as a core holding for the long term.
The price target of $26.00 increases from $25.00 on a rise in estimates.
Shares of Planet Fitness closed at $20.33 yesterday.
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Related EntitiesJefferies & Co, Randal Konik
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