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Piper Jaffray is out with its report today on Town Sports
CLUB, maintaining Overweight.
In its report, Piper Jaffray writes, "We believe Town Sports renewed sales culture is driving a higher enrollment fee and improved net member gains versus 2010 which gives us confidence the company can hit its comparable club revenue goals in the second half of 2011. In addition, we believe small group training initiatives and off peak members are contributing to improved club utilization. Overall, we believe in the company's strategy to generate free cash flow, increase operating margins and pay down debt to improve the capital structure."
At the time of posting, shares of CLUB were trading at $7.28, up 0.55% from Tuesday's close.
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