Planet Fitness initiated with a Buy at UBS

UBS initiated coverage of Planet Fitness (PLNT) with a Buy rating and $125 price target The firm says structural shifts in consumer behavior are leading to a prioritization of health and wellness, especially among Gen Z. Around 82% of U.S. consumers now consider health and wellness a top priority, up from 50% in 2022, the analyst tells investors in a research note. In the fitness group, UBS prefers asset-light business models that are “scalable with durable growth outlooks.” It likes companies that can capitalize on affordable fitness offerings or with a more premium holistic health club approach.