** Shares of Planet Fitness PLNT.N rise 3% to record high of $104.60 on Tues, a day after the gym chain announced preliminary year-end results

** PLNT, which presented at the annual ICR Conference on Mon, said ended 2024 with ~19.7 mln members and estimated its full year systemwide same-club sales grew 5%

** In addition, co said it opened 150 new clubs and placed equipment in 124 new franchised locations over the course of the year

** Co announced appointments of Chip Ohlsson as Chief Development Officer and Brian Povinelli as Chief Marketing Officer

** Ohlsson joins from Wyndham Hotels & Resorts, and Povinelli, with over 30 years of marketing experience, comes from Marriott International

** Jefferies, which rates PLNT 'buy' with Street-high PT of $150, per LSEG, said in note late Mon it believes co is well-positioned to capture additional share as consumers seek greater value

** TD Cowen, which calls PLNT its 'top idea', said in note on Tues it's upbeat on the CDO and CMO announcements, and expects gym openings to sequentially improve the next few years as co aims for +200/year. Brokerage has a 'buy' rating on PLNT with $120 PT

** 15 of 19 brokerages covering PLNT are bullish including 6 "strong buy" recommendations, while 4 have "hold"; median PT of $109.50 up from $91 on Oct 14

** In 2024, PLNT shares rose 35%, well outperforming 8% advance in the S&P 400 Consumer Discretionary index .SPMDCD

** PLNT plans to report full 2024 results and 2025 outlook on Feb 25

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))