BMO Capital raised the firm’s price target on Peloton (PTON) to $8.50 from $6.50 and keeps a Market Perform rating on the shares after its Q1 results. The firm notes that it has called on the company to emphasize profitability over growth, and Peloton’s latest results represented another proof-point, the analyst tells investors in a research note. BMO adds that it continues to see material EBITDA upside for Peloton if its profitability focus continues, though it also sees downside-risk should they revert to primarily chasing growth.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTON: