Investors looking to get their portfolio in shape should consider fitness stock Peloton Interactive (PTON), according to investment bank Canaccord Genuity (TSE:CF).
Susan Anderson, a top five-star rated analyst, says that Peloton is well-positioned to capture more of the fitness sector moving forward. As such, she has upgraded her rating on the maker of internet-connected treadmills and exercise bikes to Buy from Hold, and reiterated a $10 per share price target, which implies 65% upside from the stocks closing price of $6.07 on March 13.
In a note to clients, Anderson said that Peloton has “regained its footing” in the fitness sector, and argued the company could emerge as a winner among its peers. “Peloton is the clear leader in the connected fitness industry, which they invested in early on and built a six million loyal member base that has a high-margin recurring revenue stream.”
Expanding Into Wellness
PTON stock was a high-flying name during the Covid-19 pandemic when people used its treadmills and exercise bikes to workout at home. However, the stock has been badly beaten up in recent years and is down 24% so far in 2025.
Anderson says investors should treat the pullback as a buying opportunity, noting that the company has right-sized its cost structure, improved its unit economics, and gotten its balance sheet in shape. The analyst says Peloton is ready to “grow again.”
Additionally, Anderson says that Peloton could grow significantly by expanding into the areas of health and wellness, as well as supplements.
Is PTON Stock a Buy?
The stock of Peloton Interactive has a consensus Hold rating among 16 Wall Street analysts. That rating is based on four Buy and 12 Hold recommendations issued in the last three months. The average PTON price target of $10.18 implies 53.31% upside from current levels.
