Shares of Peloton Interactive (NASDAQ: PTON) climbed on Tuesday, following bullish analyst remarks. As of 1:10 p.m. EDT, Peloton's stock was up more than 7%.
Stifel analyst Scott Devitt reiterated his buy rating on Peloton's shares and boosted his price forecast from $62 to $72. His new target price represents potential gains for investors of roughly 10% from Peloton's closing price on Monday and about 3% from their current price near $70.
Peloton's equipment is growing increasingly popular among fitness fans. Image source: Peloton Interactive.
Source Fool.com