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Fly News Breaks for February 6, 2020
PTON
Feb 6, 2020 | 06:57 EDT
SunTrust analyst Youssef Squali raised his price target on Peloton to $37 and kept his Buy rating after its "strong" Q2 results, saying the quarter demonstrated the success of its "easy financing, increased branding, and innovative marketing" strategy. The analyst also notes that the company has realized "material margin leverage" which he expects to be "sustainable" and potentially accelerating the path to profitability. Squali adds that while Q3 revenue guidance was on the light side, the quarter's expected 50% growth comps against 122% seen in Q3 of last year.
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