On Friday, Planet Fitness (NYSE:PLNT) saw its price target increased by Roth/MKM from $70.00 to $73.00, while the firm maintained a Buy rating on the stock. The fitness center chain, despite experiencing a mixed quarter and presenting a varied guidance, has not had its fundamental value or stock outlook deemed as compromised by the firm.
Roth/MKM highlighted Planet Fitness's status as a strong competitor within the industry, referring to the company as a "juggernaut" with significant potential for further growth. The firm's decision to uphold a Buy rating indicates a positive outlook on the company's shares, suggesting confidence in Planet Fitness's ongoing transition and future performance.
The firm's analysis acknowledged the current undervalued state of Planet Fitness's stock compared to historical valuations. This perspective suggests that the current market price does not fully reflect the company's intrinsic value, and investors might consider this an opportune time to invest in the company's shares.
The price target adjustment to $73 reflects a modest increase but signals the firm's belief in the company's ability to appreciate in value. The reiteration of the Buy rating alongside the price target raise underscores the firm's stance on the fitness chain's investment potential.
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