After having hosted a headquarters visit with Planet Fitness (PLNT)’ CEO, CFO and COO, Jefferies reports that management was upbeat, calling this the “golden age of fitness.” Planet is “set to keep winning” and positioned for durable growth with churn likely stable, unit economics improving, and a member-first strategy in place, argues the analyst, who would buy shares with the analyst day on November 13 seen as the next catalyst. Jefferies keeps a Buy rating and $175 price target on Planet Fitness shares, which are up $5.89 or 6%, to $105.28 in morning trading.
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