UPDATE: DA Davidson Starts Planet Fitness (PLNT) at Buy

(updated to expand analyst comment)

DA Davidson initiates coverage on Planet Fitness (NYSE: PLNT) with a Buy rating.

Analyst Andrew Burns notes exceptional momentum and earnings growth visibility. The analyst continues "Year to date, PLNT has generated high single-digit system-wide comps, a forecasted 50bp average royalty rate increase, margin expansion and ~20% earnings growth. As we look into 2018, many of these tailwinds are likely to persist, fueling excellent momentum for the year ahead."

For an analyst ratings summary and ratings history on Planet Fitness click here. For more ratings news on Planet Fitness click here.

Shares of Planet Fitness closed at $30.08 yesterday.

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