BMO Capital Reiterates Underperform Rating on Peloton Interactive (PTON)
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BMO Capital analyst Simeon Siegel reiterated an Underperform rating and $33.00 price target on Peloton Interactive (NASDAQ: PTON) as a new PTON/Chase partnership offers up to $120/~25% off subscriptions.
Potential related member acquisition and how cost is shared remains unknown as PTON essentially discounts its subscription 25%, increasing Cost of Acquisition AND Retention as existing members save as well, likely driven by increasing competition.
Shares of Peloton Interactive closed at $120.41 yesterday.
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