Shares of Peloton Interactive (NASDAQ: PTON) rose 6.5% on Wednesday, following a series of analyst price-target hikes.
On Tuesday, Peloton announced a new, lower-priced treadmill designed to bring even more people into the company's ballooning, connected-fitness subscriber base. Peloton also slashed the price of its existing exercise bike and debuted a higher-priced model with additional features geared toward providing customers with a total-body workout experience.
In a press release, CEO John Foley said:
Source Fool.com