Truist lowered the firm’s price target on Peloton to $6 from $7 and keeps a Hold rating on the shares. The company’s Q2 results were “mixed” as the management continues to try to pivot to profitable growth, the analyst tells investors in a research note. While the company has reduced costs, adjusted inventory and is stabilizing cash flow and liquidity, consumer demand and churn remain headwinds to growth, Truist added.
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