Since the close of trading last Friday, shares of Peloton (NASDAQ: PTON) have surged about 10%, as of 1:24 p.m. ET Thursday. Shares are largely moving higher due to a recent Wall Street analyst report that upgraded the stock.
Peloton, a maker of exercise equipment and content, has seen its stock get absolutely crushed since the main years of the pandemic, as people returned to the gym following the reopening of the economy, among other issues. But now shares are attractively priced, according to UBS analyst Arpine Kocharian, who upgraded the stock to a buy rating and raised the price target from $7 to $11.50.