Planet Fitness Stock: Next Stop, $27?
Wall Street's getting pumped up when it comes to Planet Fitness (NYSE: PLNT). Shares of the discount gym operator hit an all-time high earlier this month after posting another blowout quarter, and analysts are paying attention to the growth stock's reps.
Dave King at Roth Capital sees more new highs in the near future. He is raising his price target from $23 to $27 on Monday, encouraged by the chain's strong membership growth and margin improvement in its latest report.
Last week it was George Kelly at Imperial Capital moving his goal post on the stock from $25 to $28. Kelly sees the shares continuing to track higher as deleveraging and franchising efforts intensify. Both King and Kelly naturally have bullish ratings on Planet Fitness.
Source: Fool.com
