Planet Fitness (PLNT) PT Raised to $120 at RBC Capital

RBC Capital analyst Logan Reich raised the price target on Planet Fitness (NYSE: PLNT) to $120.00 (from $115.00) while maintaining a Outperform rating.

The analyst comments "PLNT's investor day was largely positive, in our view. The company's '26-'28 financial algorithm sets an achievable bar and the EBITDA growth CAGR outlook is multiple hundreds of basis points above consensus estimates. Gen Z memberships are up 3x to ~6m since 2020 where we think there are secular tailwinds from health & wellness-focused younger generations as they age into being potential members. Further, real estate is increasingly available and franchisee IRRs are tracking above the mid-20%s target which could encourage unit growth acceleration. Lastly, the company is testing more Black Card amenities ahead of a '26 price increase which could limit declining mix as the price gap between Classic Card and Black Card expands to $15 from $10. Raising estimates & PT to $120 (from $115)."

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