Telsey Advisory raised the firm’s price target on Peloton (PTON) to $9 from $8 and keeps a Market Perform rating on the shares. While the company’s new updates to its connected fitness products should be successful in getting consumers that are already considering a Peloton purchase to pay for more for an upgraded product, the firm is not convinced these features can drive a significant upgrade cycle for existing members, the analyst tells investors.
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