Peloton price target raised to $11 from $10 at Truist

Truist analyst Youssef Squali raised the firm’s price target on Peloton (PTON) to $11 from $10 and keeps a Hold rating on the shares. The company’s Q2 results and outlook show gradual improvement against the ongoing turnaround, though the firm remains at neutral as the management continues to right-size the cost base while repositioning the business for profitable growth, the analyst tells investors in a research note. Truist adds however that visibility into the pace of this growth, long-term margin, and the ultimate total addressable market size remains low.