Peloton price target raised to $7 from $5 at JPMorgan

JPMorgan raised the firm’s price target on Peloton (PTON) to $7 from $5 and keeps a Neutral rating on the shares. The company continues to align costs with its current revenue profile, the analyst tells investors in a research note. The firm says expense savings are materializing faster than expected and Peloton remains on track to deliver $200M annualized savings from its restructuring program by the end of fiscal 2025.