Macquarie upgraded Peloton (PTON) to Outperform from Neutral with a price target of $10 following a transfer of coverage. The company reported another quarter ahead of guidance and expectations on sustained margin focus and better user numbers, the analyst tells investors in a research note. The firm says the fiscal Q3 report serves as further evidence that Peloton is executing on costs and deleveraging. The company’s 2025 ending paid subscribers, revenue and EBITDA forecasts are guided higher, Macquarie points out.
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