Planet Fitness (PLNT): Stellar Results Show Off The Company's Business Model Superiority - Jefferies
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Randal Konik
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!