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Fly News Breaks for December 4, 2018
PLNT
Dec 4, 2018 | 08:43 EDT
Cowen analyst Oliver Chen believes health and wellness will remain a dominant trend. The analyst said Planet Fitness offers a compelling value proposition coupled with a highly scalable franchise model that will enable it to gain market share. Chen said the shares are expensive, but are worth it, as he believes long-term earnings estimates can steadily go higher. Chen calls Planet Fitness a Best Idea for 2019 and he reiterated his Outperform rating while raising his price target to $65 from $58.
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