Planet Fitness price target raised to $80 from $65 at Baird

Baird analyst Jonathan Komp raised the firm’s price target on Planet Fitness to $80 from $65 and keeps an Outperform rating on the shares. The firm said despite further trimming 2023E system units to +150-160, the company outlined five elements of a new growth plan that helps to reduce 2024E downside risks while positioning to re-accelerate by 2025E.