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PTON

Peloton

$85.49 /

+3.41 (+4.15%)

, NFLX

Netflix

$496.42 /

+20.41 (+4.29%)

07:47
09/16/20
09/16
07:47
09/16/20
07:47

Apple entrance not barrier to Peloton's growth, says Rosenblatt

Rosenblatt analyst Bernie McTernan reiterates a Buy rating on Peloton Interactive (PTON) with a $130 price target following the company's investor day. The stock closed yesterday up $3.44 to $85.45. The analyst continues to believe Peloton has "significant growth opportunities ahead." It is still early days in technology disrupting the fitness market, with Peloton having a "similar opportunity and disruptive business model" as Netflix (NFLX) did nearly a decade ago, McTernan tells investors in a research note. The analyst sees global expansion and a certified pre-owned platform as the next catalysts for Peloton's growth. McTernan also views Apple's (AAPL) entrance into the market as a validation of the total addressable market versus being a barrier to Peloton's growth. Apple Fitness+, which requires an Apple Watch, does represent incremental competition, but will not impact Peloton's growth trajectory given its first mover advantage and "high quality" subscription and products that go along with a "vast and growing" content library, says the analyst.

PTON

Peloton

$85.49 /

+3.41 (+4.15%)

NFLX

Netflix

$496.42 /

+20.41 (+4.29%)

AAPL

Apple

$115.54 /

+0.265 (+0.23%)

  • 26

    Sep

PTON Peloton
$85.49 /

+3.41 (+4.15%)

09/16/20 Stifel
Peloton valuation framework supports 'four-year double,' says Stifel
09/16/20 Raymond James
Peloton lays path to reach 100M subscribers, says Raymond James
09/16/20 JMP Securities
JMP Securities 'incrementally positive' on Peloton after investor day event
09/15/20 Argus
Peloton price target raised to $100 from $55 at Argus
NFLX Netflix
$496.42 /

+20.41 (+4.29%)

09/15/20
Fly Intel: Top five analyst initiations
09/14/20 KeyBanc
Netflix initiated with an Overweight at KeyBanc
09/14/20 KeyBanc
Netflix initiated with an Overweight at KeyBanc
AAPL Apple
$115.54 /

+0.265 (+0.23%)

09/16/20 Canaccord
Apple Fitness service launch a warmup for 5G iPhones, says Canaccord
09/16/20 Bernstein
Apple may drive incremental volume by offering cheaper wearable, says Bernstein

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