Peloton Set to Vault Nearly 30% Higher, an Analyst Says
Buoyed by strong demand for both existing and new products, Peloton Interactive (NASDAQ: PTON) is well positioned for a sharp move upward. That's the opinion of analyst Edward Yruma of KeyCorp's KeyBanc Capital Markets, who on Wednesday dramatically raised his price target on Peloton.
The company's shares, Yruma believes, could hit a "street high" of $160 per share, which is 27% higher than the current price; his former target was $120. The analyst is maintaining his overweight recommendation on the stock.
Yruma's monitoring of Peloton's business indicates that consumers are still hungry for its stationary bicycles in particular, even though competitors are nipping at its heels.
Source Fool.com
