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Why Peloton Stock Climbed Today

TheMotleyFool

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Shares of Peloton Interactive (NASDAQ: PTON) were trading up by 5.1% as of 11:57 a.m. EDT Monday after the company received a bullish initiation from a Wall Street analyst. Loop Capital kicked off its coverage of the connected fitness company with a buy rating, and its analyst, Daniel Adam, assigned a price target of $140 to Peloton stock.

Adam believes that the market's concerns regarding Peloton's recent recall of its Tread and Tread+ products are overblown. The consumer discretionary company has a strong history of beating earnings expectations and boosting guidance. Peloton shares are down by approximately 40% from their January peak, in part due to negative sentiment related to the recalls.

Image source: Peloton.

Source Fool.com

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