Peloton price target raised to $19 from $16 at BofA

BofA analyst Justin Post raised the firm’s price target on Peloton to $19 from $16 and keeps a Buy rating on the shares after the company beat expectations on revenue and subscribers in Q2, but missed on EBITDA. Hardware margin is still an overhang, but there were "a few positive signs," said the firm, which is raising its FY23 revenue estimate and assumes the company operates near breakeven cash flow for a year or two going forward as it reinvests.