News Formal

Bank of America downgrades Peloton, slashes price target in half after earnings sell-off

  • 📰 CNBC
  • ⏱ Reading Time:
  • 5 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 5%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

The firm moved to the sidelines on the stock and halved its price target.

Expectations for underwhelming future growth have pushed Bank of America onto the sidelines with Peloton . Analyst Justin Post downgraded the workout stock to neutral from buy and cut his price target in half to $6.50. Still, Post's shaved target still implies an upside of 20.1% from where the shares finished Wednesday. "While we still see real value in the sub base ... we have less confidence in subscriber growth drivers from here," he said in a note to clients Wednesday.

mountain Peloton's last five days — CNBC's Michael Bloom contributed to this report

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of America Corp. stock rises Wednesday, still underperforms marketShares of Bank of America Corp. inched 0.04% higher to $28.45 Wednesday, on what proved to be an all-around great trading session for the stock market, with...
Source: MarketWatch - 🏆 3. / 97 Read more »

Peloton earnings: What to expect from the maker of exercise bikesPeloton Interactive Inc. is once again about to update investors on the progress of its turnaround.
Source: MarketWatch - 🏆 3. / 97 Read more »