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Monday, October 21, 2019

-=Peloton (PTON) initiated by more than ten different firms


  • At least 17 brokerage firms started coverage of the interactive fitness company. Of those, 16 gave Peloton stock buy ratings. One firm, MKM Partners, initiated coverage at neutral.
  • Goldman Sachs is the most bullish of the group. It gave Peloton stock a price target of 37. In morning trading on the stock market today, Peloton stock fell 2.6%, near 22.90.
  • Peloton began trading on Sept. 26 with its IPO priced at 29 a share. It ended its first day of trading at 25.76 and only got as high as 27.98 that day.
The New York City-based company sells home fitness equipment, including stationary bikes and treadmills that are equipped with internet-connected video screens. Users pay $39 a month to stream Peloton's exercise classes.


"Peloton is arguably the hottest brand in home fitness, with its popular hardware (led by the bike), livestreamed classes, and passionate community," Cowen analyst John Blackledge said in a note to clients. "As a first mover in the space, the company currently faces few true comps (competitors) that combine its premium hardware, software, content, logistics and community."

Blackledge initiated Peloton stock at outperform with a price target of 34.

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