Raymond James Upgrades Planet Fitness to Strong Buy

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Raymond James recently upgraded Planet Fitness ($NYSE:PLNT) stock from Market Perform to Strong Buy. The firm cited the company’s low debt load and resilient, recession-resistant business model as key reasons for the upgrade. Planet Fitness shares have gained in early trading following the news. The company’s simple and affordable business model has made it a popular choice among budget-conscious consumers, especially in recent years.

With its low overhead and no interest rate risk, Planet Fitness is well-positioned to weather any economic downturn. Raymond James’ upgrade is a vote of confidence in the company’s long-term prospects. Planet Fitness is a good investment at current levels.

Price History

Raymond James upgraded Planet Fitness to a “strong buy” rating on Monday, citing positive news coverage of the company. Planet Fitness stock opened at $58.5 on Monday and closed at $56.6, up 1.2% from its previous closing price of $55.9.

VI Analysis

Companies with strong fundamentals are often seen as having long-term potential. This is because their financials reflect the company’s ability to generate revenue and profit, as well as its ability to pay off debts and fund future operations. According to the VI Star Chart, PLANET FITNESS has an intermediate health score of 6/10. This is due to its strong cash flows and debt position.

However, the company is classified as a ‘gorilla’, which is a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. High growth companies are deemed more risky as they attempt to grow faster.

Summary

The investment firm upgraded the company’s stock from “outperform” to “strong buy” on Monday, citing its “impressive” performance so far this year. Raymond James is not the only one bullish on Planet Fitness. The company has received mostly positive news coverage from other analysts and investors in recent months. With its strong performance and bright future prospects, Planet Fitness is a stock worth considering for your portfolio.