Peloton price target raised to $9 from $5 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Peloton (PTON) to $9 from $5 and keeps a Market Perform rating on the shares. The company beat its Q1 guidance across all metrics, with better-than expected adjusted EBITDA being the highlight, the analyst tells investors. Overall, while Peloton’s revenues remain under pressure as consumers remain cautious on big-tickets spending, improved profitability and the CEO appointment has provided stability and visibility into the company’s next chapter.