- Stifel analyst Scott Devitt lowered Peloton Interactive Inc’s (NASDAQ:PTON) price target to $120 from $140 (implying 44% upside) and kept a Buy rating on the shares.
- The analyst assumes more modest gross margin expansion in FY23 and out years, given the company’s pricing cuts and his estimates for product mix.
- While recent pricing changes, near-term margin headwinds, and concerns of elevated subscriber churn have weighed on investor sentiment and share performance, Devitt continues to see multiple drivers for near-term growth.
- Devitt views international expansion and new hardware opportunities as drivers of sustainable long-term growth.
- Price Action: PTON shares are trading higher by 0.87% at $83.28 on the last check Wednesday.
Stifel Cuts Peloton Interactive Price Target By 14%, Maintains Buy Rating
Stifel analyst Scott Devitt lowered Peloton Interactive Inc’s (NASDAQ:PTON) price target to $120 from $140 (implying 44% upside) and kept a Buy rating…
