Oppenheimer Assumes Peloton Interactive (PTON) at Outperform

Oppenheimer analyst Brian Nagel assumes coverage on Peloton Interactive (NASDAQ: PTON) with an Outperform rating and a price target of $20.00 (from $18.00).

The analyst commented, "After an exhaustive study we are assuming coverage of Peloton (PTON) with an Outperform rating and a 12-18-month price target of $20 (was $18). The past several quarters have proven tumultuous for Peloton and its shares, as the story has morphed rapidly from promising tech unicorn to COVID-19 winner, to post-pandemic victim. Through the lens of analysts with long-standing backgrounds in consumer and fitness, we restudied carefully PTON and the company’s unique business model. Significant challenges for Peloton remain. That said, we believe that within the dynamic and fragmented health and wellness segment, there exists opportunity for a better-managed and more-disciplined PTON. Our positive call on PTON is longer term and highly speculative in nature."

For an analyst ratings summary and ratings history on Peloton Interactive click here. For more ratings news on Peloton Interactive click here.

Shares of Peloton Interactive closed at $11.26 yesterday.

You May Also Be Interested In

• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• UBS Reiterates Buy Rating on HF Sinclair (DINO)
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery