JPMorgan lowered the firm’s price target on Peloton to $8 from $9 and keeps an Overweight rating on the shares post the fiscal Q2 report. Peloton traded down 24% yesterday as shares were pressured by the lower than expected second half of the fiscal year outlook, the analyst tells investors in a research note. The firm says near-term visibility remains limited and Peloton believes it may have pulled forward hardware demand in Q2, resulting in lower than expected revenue and adjusted EBITDA in the second half.
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