Planet Fitness (PLNT) is expected to highlight a mid-single-digit percentage same-store sales growth outlook for the next two years at its upcoming investor day on Nov. 13, UBS Securities said in a note emailed Friday.

Most of the gains will be fueled by higher pricing, while a small part of the growth will come from volume, driven by the ramping of newer clubs, according to the note.

The brokerage added that the company is also likely to lay out a multiyear unit growth outlook, reflecting continued international club expansion and a more asset-light model in Spain and other markets.

"We believe accelerated unit growth outlook can anchor upside for volume growth coming from ramping clubs in the system into 2027," UBS said.

UBS rated Planet Fitness' stock at buy, with a price target of $125.

Shares of Planet Fitness were up 2.9% in recent Friday trading.

Price: 106.21, Change: +2.97, Percent Change: +2.87