Morgan Stanley Initiates Planet Fitness (PLNT) at 'Overweight' as Recent Data Indicates a Quick Return to In-person Fitness
08/24/21 - Morgan Stanley analyst Brian Harbour started the coverage of Planet Fitness (NYSE: PLNT) at “Overweight” with a price target of $93.00 per share.
He sees PLNT as the fitness value segment leader that can re-emerge as a "compelling growth story."
“Planet Fitness is the largest US fitness club chain by system sales and the pioneer of the HVLP (high volume, low price) model; 95% of units are franchised. With the stock having underperformed its benchmark by ~15% YTD and off pre-Covid/early 2021 highs...
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