Jefferies: 'PLNT remains one of the best defensive growth profiles'.

The analyst comments "PLNT remains one of the best defensive growth profiles across the broader consumer space. PLNT has delivered unmatched comp growth (never comping negative ex-Covid) and has consistently paced with WMT/COST since 1Q07. While WMT/COST trade at peak multiples, PLNT sits near all-time troughs despite a wide moat and accelerating unit growth. We would look through near term noise and buy this best-in-class operator for its resilient comps and clear valuation upside."