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Planet Fitness Still In Excellent Shape; Imperial Maintains Outperform Rating

Manikandan Raman

Imperial Capital maintains its Outperform rating on Planet Fitness Inc (NYSE: PLNT) after the fitness center chain reported solid quarterly results.

Planet Fitness reported fourth-quarter revenue and EBITDA above consensus. The company also guided 2017 revenue consistent with consensus, while EBITDA forecast topped Street.

“We see a lot to like in PLNT; big long-term unit growth potential, steady same-store sales, high incremental margin, and likely de-leveraging. We see added upside should PLNT scale its international operations, raise dues, or add advertising or branded products,” analyst George Kelly wrote in a note.

View more earnings on PLNT

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Planet Fitness is expanding to Panama in late 2017 and exploring other Latin and South American countries, with Mexico is most likely in the near-term.

Shares of Planet Fitness closed Thursday’s regular trading at $21.17. Kelly has a price target of $24.

Image Credit: By Anthony92931 - Own work, CC BY-SA 3.0, via Wikimedia Commons

Latest Ratings for PLNT

Date Firm Action From To
Jan 2017 Macquarie Initiates Coverage On Outperform
Aug 2016 Imperial Capital Maintains Outperform
Aug 2016 Jefferies Maintains Buy

View More Analyst Ratings for PLNT
View the Latest Analyst Ratings

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