PTON Stock Price: $140 Target From Truist

By Amit Chowdhry ● Jul 4, 2021
  • The shares of Peloton Interactive Inc (NASDAQ: PTON) have received a price target increase from $125 to $140 by Truist. These are the details.

The shares of Peloton Interactive Inc (NASDAQ: PTON) have received a price target increase from $125 to $140 by Truist. And Truist analyst Youssef Squali is maintaining a “Buy” rating on the company shares.

Squali cited intra-quarter data and recent encouraging management commentary. Specifically, Squali noted that the fourth quarter appears to be tracking ahead of expectations in terms of the top line following conservative guidance amidst the Tread+ recall earlier this summer.

Squali pointed out that the supply chain issues for Peloton are now in the past as the company is benefitting from the marketing push of the $49 per month Bike offering with the launch of the new Tread in the coming weeks. This is expected to be a positive catalyst going forward for the company shares.

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