Bernstein raised the firm’s price target on Peloton (PTON) to $9 from $6.50 and keeps a Market Perform rating on the shares. Following a tough 2024 with the widespread middle/higher-income squeeze and trade-down, U.S. consumers are more optimistic on discretionary spending in 2025, the firm argues. Bernstein likes exposure to High-income and Sportswear as key bright spots for stronger spending against weaker comparable sales.
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