Peloton price target lowered to $8 from $9.50 at BMO Capital

BMO Capital analyst Simeon Siegel lowered the firm’s price target on Peloton to $8 from $9.50 and keeps a Market Perform rating on the shares. The company’s Q4 marked another disappointing quarter as the firm’s fears about Peloton’s growing churn, slipping engagement, and meaningfully lower-than-hoped-for total addressable market are being reflected in results, the analyst tells investors in a research note. While these fears were contrarian a couple of years ago, they’re now consensus, BMO added.