Planet Fitness price target raised to $87 from $80 at BMO Capital

BMO Capital raised the firm’s price target on Planet Fitness to $87 from $80 and keeps an Outperform rating on the shares after its Q2 earnings beat. The quarter included better Franchise and Equipment revenue and EBITDA and membership growth, the analyst tells investors in a research note. BMO adds that it continues to expect the company’s strong underlying business to drive long-term value, representing a “compelling compounder”.