Planet Fitness (PLNT) PT Raised to $64 at Guggenheim

Guggenheim analyst John Heinbockel raised the price target on Planet Fitness (NYSE: PLNT) to $64.00 (from $57.00) while maintaining a Buy rating.

The analyst commented, "PLNT and HOME, two members of our "growth trinity", offered compelling secular growth stories with one key difference: while the PLNT model is hitting on all cylinders, HOME is going through a transitional period with respect to it's supply chain-related margin pressure. We are raising our PLNT price target to $64 from $57, believing the shares are poised to appreciate further on likely above-consensus operating momentum. We believe more patient investors should BUY HOME on the recent pullback, especially now that 2019 guidance has been largely de-risked and top-line momentum remains strong."

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