PLNT - Planet Fitness jumps after Raymond James upgrade

Planet Fitness ( NYSE: PLNT ) gained in early trading after Raymond James issued an upgrade on the gym stock to a Strong Buy rating after having it slotted at Market Perform.

The firm said PLNT offered a resilient and recession-resistant business model without the interest rate risk being seen across much of the consumer sector due to its low debt load.

The valuation on Planet Fitness ( PLNT ) was also noted to be sitting below the historical average.

Shares of Planet Fitness ( PLNT ) rallied 2.38% in premarket trading to $57.21 against a tough market backdrop.

The Seeking Alpha Quant Rating on PLNT is Buy.

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