Baird increases its price target on Peloton Interactive (PTON -1.1%) to $140 as the Street continues to play catch-up to the big share price rally.
The firm says it sees momentum continuing for Peloton even after gyms re-open and traffic trends improve.
“PTON has undergone a dramatic transformation since we launched coverage one year ago, as a strong foundation and solid execution – plus irreversible tailwinds for at-home fitness – have helped to drive accelerated growth and significant profitability pull forward.
If the past year proves anything, it is the open-ended nature of PTON’s near- and long-run opportunities.”
23 out of 26 firms covering Peloton are in the bull camp.
