PTON Stock Price: $140 Target By Loop Capital

By Amit Chowdhry ● June 9, 2021
  • The shares of Peloton Interactive Inc (NASDAQ: PTON) have received a price target of $140 by Loop Capital. These are the details.

The shares of Peloton Interactive Inc (NASDAQ: PTON) have received a price target of $140 by Loop Capital. And Loop Capital analyst Daniel Adam initiated coverage of Peloton Interactive with a “Buy” rating.

For the year-to-date, Peloton’s shares are down over 25%, larlgely due to the voluntary recalls of the Tread and Tread+ along with negative press over the safety of those products. But Adam believes that the impact of the recalls will be short-lived and management guidance likely “bakes in an excessive amount of conservatism.”

And Adam noted that Peloton could easily increase subscription prices and its pricing power is considered to be underappreciated by investors. Adam believes that Peloton’s subscription revenue growth will continue outpacing growth in Connected Fitness products and estimates subscription revenues increasing 67% annually over the next 2 years.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.