Shares of Peloton Interactive (NASDAQ: PTON) climbed 8.8% to a new closing high of $91.06 on Wednesday after a respected investment bank named it one of their top stock picks.
JPMorgan analyst Doug Anmuth reiterated his firm's overweight rating on Peloton's stock and boosted his price forecast from $58 to $105. His new target price represents potential gains for investors of roughly 15%, compared to the stock's closing price on Wednesday.
Peloton's home-based exercise equipment is selling well during the COVID-19 crisis. Image source: Peloton Interactive.