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Peloton can rally 12% as demand continues to surpass supply in early 2021, Bank of America says

4 days ago   |   By Business Insider

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...
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