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

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

Bernstein analyst Aneesha Sherman raised the firm’s price target on Peloton (PTON) to $6.50 from $4.25 and keeps a Market Perform rating on the shares. Efforts to right-size the cost base and improve unit economics have paid off, with Peloton delivering margins and free cash flow ahead of Street and internal expectations, the analyst tells investors in a research note. Incoming CEO Peter Stern is set to inherit a stable and free cash flow-positive business with a much leaner cost structure, and he will need to lay out a strategy for a return to sustainable long-term growth when he comes on board next year, the firm says.

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