Cowen Downgrades Peloton Interactive (PTON) to Market Perform
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Cowen analyst John Blackledge downgraded Peloton Interactive (NASDAQ: PTON) from Outperform to Market Perform with a price target of $12.00.
The analyst comments "We downgrade PTON to Market Perform on challenging post-pandemic trajectory and demand uncertainty amid turnaround effort. Our proprietary survey data also reflects a stabilization in consumer interest, but at lower levels relative to pre-pandemic demand. We cut '23-'27 estimates, Price Target to $12, downgrade to Market Perform."
Shares of Peloton Interactive closed at $10.31 yesterday.
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