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Bank of Americas Alexander Perry held a Buy rating on Planet Fitness with a $75 price target as early as November 7, 2023, citing early signs of benefits to fitness industry from increased usage of GLP-1 drugs. BMOs Simeon Siegel was telling reporters that in a world where GLP-1s become widely accessible, gyms from Planet Fitness all the way up to the highest-end brands are likely going to pull out marketing campaigns looking to boost their membership bases. But the bullish notes were swimming against the tape