Planet Fitness price target lowered to $66 from $75 at TD Cowen

TD Cowen lowered the firm’s price target on Planet Fitness to $66 from $75 and keeps a Market Perform rating on the shares. The firm said they posted mixed results as Placement/opening guidance was better than feared, soft quarter-to-date member trends are a concern given seasonality and its neew growth model is a smart long-term plan, while lower marketing cost pilot will help franchisees.