Peloton price target raised to $6.50 from $4.25 at Bernstein

Bernstein raised the firm’s price target on Peloton (PTON) to $6.50 from $4.25 and keeps a Market Perform rating on the shares. The firm says the company’s efforts to right-size the cost base and improve unit economics have paid off. Peloton delivered margins and free cash flow ahead of Street and internal expectations, the analyst tells investors in a research note.