Morgan Stanley predicts gyms will recover and rates Planet Fitness at overweight

Published Tue, Aug 24 20216:46 AM EDTUpdated Tue, Aug 24 202111:03 AM EDT

Jesse Pound @/in/jesse-pound @jesserpound

A customer wears a face mask as they lift weights while working out inside a Planet Fitness gym as the location reopens after being closed due to the Covid-19 pandemic, on March 16, 2021 in Inglewood, California.

Patrick T. Fallon | AFP | Getty Images

Gym companies like Planet Fitness are showings signs of recovery even as the pandemic continues, and that should make the stock good buying opportunity for investors, according to Morgan Stanley.