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UPDATE: Morgan Stanley Starts Peloton Interactive (PTON) at Equalweight

March 14, 2022 3:49 AM EDT
Get Alerts PTON Hot Sheet
Price: $12.47 -3.63%

Rating Summary:
    20 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 23 | New: 34
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(Updated - March 14, 2022 5:29 AM EDT)

Morgan Stanley analyst Lauren Schenk initiates coverage on Peloton Interactive (NASDAQ: PTON) with a Equalweight rating and a price target of $32.00.

The analyst comments "We lean bullish as we believe a new regime will optimize the revenue/profit trade-off long-term: We expect PTON to remain the clear leader in connected fitness, with its industry-leading content and low churn as the key shareholder value unlock long-term. However, we lack visibility and thus conviction in the medium-term outlook as we await more detail around new CEO Barry McCarthy's go forward strategy, including equipment pricing changes, subscription pricing, and the evolution of the content platform. We see a wide range of potential outcomes in both our base case range and bull/bear spread, leading to low medium-term conviction given so many unknowns. We could turn more positive if we gain more visibility/conviction around the direction of the key inputs around the three year outlook."

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 $21.14 yesterday.


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