Needham analyst Bernie McTernan downgraded Peloton to Hold from Buy with no price target. The analyst cites the company’s Q4 results, which now assume a third consecutive year of adjusted EBITDA losses in FY24. While the firm may be wrong given the management’s bullish comments on potential for double-digit growth in Q4, given the medium term trend and the macro environment, a wait and see approach is warranted, Needham tells investors in a research note.
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