Goldman Sachs upgraded Peloton (PTON) to Buy from Neutral with a price target of $11.50, up from $7. In its better than expected Q4 earnings, the company succeeded in framing of strategic initiatives aimed at delivering differentiated product experiences with an emphasis of widening out beyond fitness and into elements of wellness as well as the potential for a product roadmap focus on personalization, the analyst tells investors in a research note. Peloton also discussed how subscriber growth would likely be less important going forward than the dual goal of expanding the ecosystem of experiences and use cases while also examining paths to increased monetization, the firm added.
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