Peloton Interactive Shares Rise on Credit Suisse Rating and Roku Shares Rise on Optimistic Outlook from Analyst
On Tuesday, shares of Peloton Interactive jumped, closing up 5.77%.
Shares of the exercise equipment company rose after Credit Suisse initiated a rating of outperform for the stock and a $164 price target, a 41% upside from Tuesday’s close. Credit Suisse is a Switzerland based investment bank.
Peloton is at the “forefront of major secular trends”, according to Credit Suisse analyst Kaumil Gajrawala. “Our stance considers that, thus far, Peloton has built a brand and achieved success with a narrow product offering (bikes & treadmills in a few markets) while under severe supply constraints.”
Shares of Peloton Interactive are down over 20% this year.
On Tuesday, shares of Roku climbed, closing up 9.47%.
Shares of the digital media player manufacturer rose after Evercore ISI analyst Mark Mahaney gave Roku’s stock an optimistic outlook. Mahaney initiated a rating of outperform and a price target of $400.
More consumers than ever before are canceling their conventional cable subscriptions in favor of less costly streaming subscriptions. And consumers are also adopting Roku’s inexpensive streaming devices and smart TV software.
According to Mahaney, Roku will be successful as advertisers move their advertising dollars from conventional broadcast television to streaming and connected TV’s.
Shares of Roku are up over 8% this year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.