Telsey Advisory analyst Dana Telsey lowered the firm’s price target on Peloton to $5 from $6 and keeps a Market Perform rating on the shares, arguing “there were more negatives than positives” in Peloton’s Q2 report. The company noted it will miss its target of breaking even on free cash flow for FY24 given hardware sales have been slower than expected, notes the firm, which attributes the slower demand to consumers being careful with big-ticket purchases and not having a lot of interest in the category.
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