PLNT - Planet Fitness sized up favorably as early vaccine delivery starts

BMO Capital Markets says recent meetings it held with top Planet Fitness (PLNT) management were positive, with constructive comments heard regarding membership, exciting opportunities in digital and royalty rate trajectory. "These were slightly offset by ongoing near-term pandemic uncertainty, particularly on timing of a return to new unit cadence," updates analyst Simeon Siegel. Siegel and team keep an Outperform rating on Planet Fitness in place and bumps up the price target to $80. Shares of Planet Fitness are up 2.05% in premarket trading. The early gain coincides with vaccine relief sweeping over the travel and entertainment sector in general.

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Planet Fitness sized up favorably as early vaccine delivery starts