Canaccord lowered the firm’s price target on Peloton to $10 from $18 and keeps a Buy rating on the shares. The firm said they reported mixed fiscal 4Q23 results, with CFP subs slightly below expectations but revenue roughly in line, and both GM and adj. EBITDA were well below consensus, with the former impacted by nearly $70M of charges, more than half of which stemmed from the seat post recall.
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