BofA lowered the firm’s price target on Peloton (PTON) to $9 from $11 and keeps a Buy rating on the shares ahead of the company reporting fiscal Q2 results on February 5. The firm remains optimistic on Peloton’s product-led strategy, AI integration, and expanding ecosystem, but lowers its multiple on expectations for higher churn following October’s price increases.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTON:
- Peloton Interactive call volume above normal and directionally bullish
- Peloton price target lowered to $8 from $9 at Telsey Advisory
- Peloton Stockholders Approve Key Proposals at Annual Meeting
- Amazon initiated, GE Vernova upgraded: Wall Street’s top analyst calls
- Peloton initiated with a Neutral at Guggenheim