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Peloton Gets $105 Price Target as Earnings Excitement Builds

    
Photographer: Jeenah Moon/Bloomberg
Updated on

Peloton Interactive Inc. jumped on Wednesday after JPMorgan said shares of the connected fitness bike maker could reach $105 by December 2021.

The stock has more than tripled this year as Peloton’s exercise equipment benefited from stay-at-home routines and as day trader interest picked up. “We continue to like shares into earnings and believe there is significant upside potential to consensus estimates both near and long term,” wrote analyst Doug Anmuth, who also lifted his sales and earnings estimates. He had previously expected the stock to reach $58 by this December, a level it surpassed in July.