Peloton price target lowered to $12 from $14 at JPMorgan

JPMorgan lowered the firm’s price target on Peloton to $12 from $14 and keeps an Overweight rating on the shares. The company’s fiscal Q4 results Q1 guidance were pressured by seasonality, the bike seat post recall and likely a challenging consumer, the analyst tells investors in a research note. The analyst says Peloton’ near-term visibility remains limited. Despite seeing a reacceleration in hardware sales over the past eight weeks, the company continues to expect connected fitness subscriber declines in Q1, notes JPMorgan. However, the firm adds that Peloton is coming out of its toughest seasonal period and should soon get distance from recalls.