Planet Fitness price target raised to $125 from $120 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Planet Fitness (PLNT) to $125 from $120 and keeps a Buy rating on the shares after “another quarter of accelerating momentum,” with “impressive” 6.9% comp growth and solid member join trends. Evidence is mounting that efforts to reposition the brand and align the in-club experience are gaining traction, adds the analyst, who is “particularly encouraged” by the franchisee-backed decision to shift advertising dollars to the more efficient national advertising fund.