Peloton price target raised to $22 from $18 at Citi

Citi analyst Ronald Josey raised the firm’s price target on Peloton to $22 from $18 and keeps a Buy rating on the shares. The analyst emerged "incrementally positive on shares" following the company’s fiscal Q2 results. The quarter highlights greater overall demand given better than expected net subscriber additions while also delivering positive pro forma free cash flow, the analyst tells investors in a research note. Citi believes Peloton’s revamped go-to-market approach across multiple products and price points is resonating.