What's Going On With Peloton Interactive Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
Peloton Interactive Inc (NASDAQ:PTON) shares are trading lower after Wolfe Research downgraded the stock rating to Underperform with a $6 price target. The analyst cites lower long-term demand, lack of conviction in new strategic initiatives, unclear profitability, and a shaky liquidity position as reasons for the downgrade.
June 21, 2023 | 6:44 pm
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NEGATIVE IMPACT
Wolfe Research downgraded Peloton's stock rating to Underperform with a $6 price target, citing concerns over long-term demand, strategic initiatives, profitability, and liquidity.
The downgrade by Wolfe Research is based on concerns over Peloton's long-term demand, strategic initiatives, profitability, and liquidity. This negative outlook is likely to impact the stock price in the short term, as investors may lose confidence in the company's future prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100