PLNT - Planet Fitness could still be fit in an economic downturn - Jefferies

Jefferies thinks Planet Fitness (NYSE:PLNT +2.5%) could hold up in an economic downturn with the fitness subsector well-positioned as health and wellness has become an even more significant part of the lives of consumers. After weighing the economic backdrop, analyst Randal Konik predicted that consumers will want less expensive and more convenient alternatives, which favors Planet Fitness (PLNT). He also noted that the fitness industry's adjusted EPS estimates have been revised upwards by more than 40% since January, yet still trades in the middle of the pack in comparison to other consumer subsectors. Jefferies has a Buy rating on Planet Fitness (PLNT) and price target of $115 vs. the current price of $65.15 and 52-week trading range of $63.00 to $99.60. Read why Seeking Alpha author Peter Way recommended Planet Fitness (PLNT) in the month.

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Planet Fitness could still be fit in an economic downturn - Jefferies