Peloton price target lowered to $5.50 from $7.50 at Piper Sandler

Piper Sandler analyst Edward Yruma lowered the firm’s price target on Peloton to $5.50 from $7.50 and keeps a Neutral rating on the shares. Management has made significant strides in ensuring the long-term viability of the business, but connected fitness growth remains elusive, the analyst tells investors in a research note.