Peloton Interactive stays a top pick at JPM with demand looking strong
May 26, 2021 10:07 AM ETPeloton Interactive, Inc. (PTON)PTONBy: Clark Schultz, SA News Editor60 Comments
- JMP Securities keeps Peloton Interactive (PTON +1.5%) slotted as a top pick for 2021, despite the company battling through a high-profile treadmill safety issue and lapping some tough pandemic comparables.
- The research firm thinks Peloton's recent announcement about a manufacturing facility is a sign that strong demand is sustaining.
- Peloton is breaking ground later this year on the facility in Ohio and aims to produce the Peloton Bike, Bike+ and Peloton Tread starting in 2023.
- Peloton is still pretty well liked on Wall Street in general, with 22 out of 28 firms covering Peloton have a Buy-equivalent rating on it. Peloton currently trades below its 50-day, 100-day and 200-day moving averages.