Planet Fitness price target raised to $91 from $76 at Macquarie

Macquarie raised the firm’s price target on Planet Fitness to $91 from $76 and keeps an Outperform rating on the shares. The company reported a Q2 beat, driven by benefit of timing of equipment replacement pulled forward with promotional activity driving franchisees to reequip, the analyst tells investors in a research note. The firm says refreshed pricing dynamics positions Planet Fitness to benefit from pricing power, driving earnings upgrades.