Telsey Advisory lowered the firm’s price target on Peloton to $6 from $10 and keeps a Market Perform rating on the shares. Peloton is making progress on its strategic initiatives and cost optimization, but a tough consumer environment and overhang from litigations/recalls cloud visibility into this progress, the analyst tells investors. It will likely take improvement in the economic environment for the company to see a turn in demand, the firm says.
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