Why Peloton Stock Rode Higher Today
Shares of Peloton Interactive (NASDAQ: PTON) rode higher today, rising as much as 5% after a Wall Street analyst reiterated a buy rating ahead of the connected fitness company's earnings release. As of 12:10 p.m. EST, the stock was up 4%.
Rosenblatt Securities analyst Bernie McTernan reiterated his buy rating on Peloton shares and boosted his price target on the stock from $130 to $140. Details around the call were not immediately available, but McTernan had previously put out a research note last month detailing how Peloton would benefit from secular changes in the fitness industry that the COVID-19 pandemic is catalyzing.
Image source: Peloton.
Source Fool.com
