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Peloton can rally 12% as demand continues to surpass supply in early 2021, Bank of America says

Peloton can rally 12% as demand continues to surpass supply in early 2021, Bank of America says bwinck@businessinsider.com (Ben Winck) © Getty Images, Ezra Shaw / Staff Getty Images, Ezra Shaw / Staff Peloton s strong growth throughout 2020 is set to continue and lift shares to new heights, Bank of America said Tuesday. The bank s analysts lifted their price target for the company to $175 to $150, implying a 12% rally from Tuesday s close over the next 12 months. The exercise-hardware manufacturer s deliveries were delayed by 10 weeks as of January 6, signaling demand still outstripped supply at the end of the holiday season. The company s product pipeline and a new factory should expand its addressable market and bolster supply throughout the year, the bank said.

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