UBS lowered the firm’s price target on Peloton to $4 from $8 and keeps a Sell rating on the shares. While UBS had flagged a positive trend in total interactive visits to the Peloton website in May and June, data shows that trend turned negative in July as well as further weakness in August, the analyst tells investors in a research note. The firm does not see tangible evidence of Peloton meeting bull case growth expectations for connected fitness subs.
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