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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
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(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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