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Benzinga

Business

Dylan Berman

Peloton Stock Is Rising Higher Wednesday: What's Going On?

Peloton Nasdaq PTON UBS

London,Uk,,March,9,,2024:,Close,Up,Shot,Of,Peloton

Peloton Interactive, Inc. (NASDAQ:PTON) shares are trading higher Wednesday after UBS upgraded the stock from a Neutral rating to a Buy rating and raised its price target from $7.50 to $11.

What To Know: The analyst cited three key reasons for upgrading the stock. First, the analyst sees room for upside in Peloton's fiscal year 2026 EBITDA, supported by revenue growth and ongoing cost cuts.

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