Analyst: Peloton Can Expect Lots of Demand, and Has the Capacity to Meet It
Exercise machine maker and streaming workout provider Peloton Interactive (NASDAQ: PTON) got a bullish endorsement from Bank of America today on the basis of the bank's sales forecasts. BofA cited multiple pieces of data supporting its thesis that Peloton is about to make a scorching run off the starting line moving into holiday sales, Seeking Alpha reports.
Bank of America cites surging recent visits to the company's website as a reason for its endorsement. In August, visits to Peloton's site were up 127% year over year, while for September that metric jumped to a 197%. For October's first half, downloads of the Peloton app soared 241% compared to last year.
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Source Fool.com
