Peloton price target lowered to $6 from $7 at Macquarie

Macquarie lowered the firm’s price target on Peloton to $6 from $7 and keeps a Neutral rating on the shares. The firm, which updated its model after Peloton’s “fine” fiscal Q1 results, sees the potential for the company to still turn things around, but says the path forward is “still fairly unclear” given uncertainty around the subscriber growth outlook, heightened seasonal marketing investments and management’s guidance.