Jefferies believes this small cap has an ‘Amazonian Business Model’

Planet Fitness, a $5.7 billion gym operator, has a business model that resembles e-commerce giant Amazon‘s, according to one Wall Street analyst.

So says Jefferies’ Randal Konik, who upgraded the stock to buy from hold on Friday and raised the 12-month price target to $75 from $49 previously. The target would translate into a 28 percent gain for Planet Fitness based on Friday’s trading level.

“This is a platform, not a gym,” Konik said in a note to clients.”We believe Planet Fitness is a platform for consumer aggregation with tenets that resemble Amazon’s successful model.”

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