Morgan Stanley analyst Nathan Feather says the firm’s tracker shows Peloton’s (PTON) net subscriber additions are pacing well above consensus estimates. The analyst is “optimistic” into the company’s earnings print, seeing “clear upside” to guidance and consensus estimates as well as the potential for a new CEO to lay out the go forward strategy. Morgan Stanley’s tracker is pointing to down 70,000 fiscal Q1 connected fitness net adds, well above the consensus at down 92,000. However, channel checks imply the a potential Q1 beat is more a function of low expectations than accelerating performance, the analyst tells investors in a research note. It keeps an Equal Weight rating on Peloton with a $3.50 price target
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