Shares of fitness company Peloton got a price target hike from analysts at Bank of America, who also affirmed their buy rating on the stock.
The Bank of America analysts boosted their price target to $175 from $150 .
Bank of America Securities analyst Justin Post noted that visits to the Peloton website in the fiscal second quarter ending December surged +167% year-over-year. While the growth was slower compared to the first quarter’s +289% year-over-year but was well above competition, according to Post.
Post said also mentioned that posts related to Peloton on Instagram rose +71% year over year and were up +92% on Twitter.
The analyst also said that while the company's almost $50 billion valuation implies a risk, the outlook remains "constructive” on the stock ahead of the full U.S. lower-priced tread launch to happen likely in March.