Peloton price target lowered to $6 from $7.50 at Bernstein

Bernstein lowered the firm’s price target on Peloton (PTON) to $6 from $7.50 and keeps a Market Perform rating on the shares. The firm notes the company’s Q2 print featured a strong balance sheet and improved profitability, but growth is off the agenda for FY26, driving the share price down 25%. As management works on marketing, distribution and retention to keep up member numbers, a return to sales growth is still at least two quarters away, and a return to CF subscription growth remains even further out, Bernstein adds.