BUZZ-Peloton shares up; Telsey Advisory Group raises PT

Reuters12-19

** Shares of fitness-equipment maker Peloton Interactive

up 1.6% at $9.6 premarket

** Telsey Advisory Group raises PTON PT to $11 from $9, implying a 16% upside to stock's last close; maintains "market perform" rating

** Brokerage expects PTON to continue to prioritize profitability in 2025

** "With new CEO Peter Stern, we expect a shift back to developing plans for returning the company to growth through hardware enhancements, emerging revenue streams like rental and pre-owned, wholesale partnerships, digital features like a strength app and personal coaching" - brokerage

** PTON in October appointed former Apple executive Peter Stern as its CEO and president

** Up to last close, stock up 54.84% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))

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