Barclays cuts Peloton target to $9, sees attractive entry point

Barclays lowered the firm’s price target on Peloton to $9 from $17 and keeps an Overweight rating on the shares post the fiscal Q4 report. Despite a large pullback in the shares post earnings, the company’s free cash flow and Connected Fitness gross margin excluding one-time charges trended in the right direction in Q4, which creates an attractive entry point on top of “de-risked” Q1 numbers, the analyst tells investors in a research note.