Why Peloton Interactive Stock Is Up 10% Today
Shares of Peloton Interactive (NASDAQ: PTON) jumped 10% in morning trading Monday after Goldman Sachs (NYSE: GS) aggressively increased its price target to $84 per share from its previous target of $64. Peloton closed out last week at $58.53 per share.
The COVID-19 pandemic has caused an outsize increase in demand for personal at-home fitness gear and classes, and Goldman believes Peloton will benefit from the "sustained" nature of the growth. Even with above-average delivery times, consumers are still buying.
Image source: Peloton Interactive.
Source Fool.com
