Wolfe Research analyst Zach Morrissey lowered the firm’s price target on Peloton to $4 from $5 and keeps an Underperform rating on the shares. The company’s fiscal Q3 EBITDA guidance came in below Street estimates and its fiscal 2024 revenue and free cash flow outlook was revised lower, the analyst tells investors in a research note. The firm says Peloton is making progress on various initiatives but the path towards sustainable, profitable growth remains unclear.
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