Peloton Price Target Raised To $84 From $66 At Goldman Sachs

Goldman Sachs analyst Heath Terry raised the firm's price target on Peloton Interactive (PTON) to $84 from $66 and keeps a Buy rating on the shares. The stock closed Friday down $2.76 to $58.53.

Amid "sustained" demand and above-average delivery wait times of up to eight weeks continuing into July despite company efforts to expand bike capacity and resume Tread deliveries on a limited basis, Peloton's connected fitness subscribers will exceed consensus estimates and guidance, Terry tells investors in a research note.

Further, the analyst does not believe this is solely a pull-forward of potential subscribers, given Peloton's "relatively low penetration" of the fitness market and its growing addressable market.

 

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William K. 1 month ago Member's comment

Interesting article. And the basis for picking "target Prices" is still not very clear, at least to me.