Peloton price target lowered to $13 from $20 at Deutsche Bank

Deutsche Bank analyst Chris Woronka lowered the firm’s price target on Peloton Interactive to $13 from $20 and keeps a Buy rating on the shares. The analyst “once again” reduced fiscal 2024 and 2025 estimates, saying the company’s progress is likely to “remain choppy.” However, the firm still believes CEO Barry McCarthy will ultimately get Peloton “to a better place in terms of financial stability.” The company’s “most logical way forward involves furthering its strategic relationships with key retail partners, and then delicately threading the needle on the development and distribution areas of the business,” the analyst tells investors in a research note.