Peloton price target raised to $8 from $4.75 at Baird

Baird raised the firm’s price target on Peloton (PTON) to $8 from $4.75 and keeps a Neutral rating on the shares. The firm said the company’s results reflected an expected return to 10% margin. The stronger profit/cash outlook and CEO announcement where the strong hire, removes uncertainty, are supporting sentiment. Still, Baird would avoid chasing shares in the short-run now.