Peloton price target lowered to $9 from $12 at Truist

Truist lowered the firm’s price target on Peloton (PTON) to $9 from $12 and keeps a Buy rating on the shares. Peloton’s mixed Q2 results and FY26 guide show that the company’s ongoing turnaround is not linear, with improvements across operations and financials driving higher profitability/free cash flow but with revenue growth coming in shy of expectations, the analyst tells investors in a research note. The firm believes the timeline to revenue growth got pushed out by 1-2 quarters, but the thesis remains unchanged.