Why did Peloton stock jump today? Analysts called a bottom

Mar. 15, 2022 3:13 PM ETPeloton Interactive, Inc. (PTON)By: Clark Schultz, SA News Editor8 Comments

Peloton Pauses Production Of Its Bike As Demand Decreases

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Peloton Interactive (PTON +10.0%) rallied on Tuesday as shares recovered from the 52-week low of $20.11 set on Monday.

The exercise equipment and services company attracted a new bull on Wall Street after Baird started off coverage with an Outperform rating and price target of $40.

"In E-commerce, we like Peloton, an unlikely hero after its recent fall from grace — with a new CEO, a new supply chain strategy, a tighter belt and a healthy underlying business with engaged users and fast-growing TAM, we think it’s time to buckle in for the ride," updated the firm.

Yesterday, Peloton Interactive (NASDAQ:PTON) attracted a price target from Morgan Stanley that implied +50% upside.

The positive comments from analysts on PTON follows news from last week that the company is considering a major pivot under its new CEO.

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