Peloton price target lowered to $13 from $20 at Bernstein

Bernstein lowered the firm’s price target on Peloton to $13 from $20 and keeps an Outperform rating on the shares. The stock remains a “show-me story” going into FY24, with weak Q1 guidance lowering hopes of a short-term bounce-back, but improving fundamentals and seasonality suggesting a stronger Q2-Q4, the analyst tells investors in a research note.