Morgan Stanley analyst Nathan Feather raised the firm’s price target on Peloton (PTON) to $5 from $3.50 and keeps an Equal Weight rating on the shares. The company is delivering a faster than anticipated profitability ramp and the firm sees room for further cost efficiencies in the near-term. However, with a declining subscriber base, it remains unclear how Peloton can return to long-term profitable growth, the analyst tells investors.
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