Truist analyst Youssef Squali lowered the firm’s price target on Peloton to $7 from $10 and keeps a Hold rating on the shares. The company’s disappointing Q4 results show that while the management continues to make progress in reducing costs, adjusting inventory and stabilizing liquidity, consumer demand and higher churn remain the biggest challenges to its growth, the analyst tells investors in a research note. Truist adds that while it expects free cash flow profitability in in the second half of 2024, it also sees material execution risk remaining for Peloton.
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