Why Peloton's Stock Is Trading Higher Today

Peloton PTON shares were trading higher on Thursday as investors weigh increasing U.S. coronavirus cases.

The surge in cases could lead to gym closings and social distancing measures, providing a tailwind for home fitness platforms.

Raymond James reinstated an Outperform rating on the stock Thursday and announced a $65 price target.

Peloton is an exercise equipment and media company that was founded in 2012 and launched with help from a Kickstarter funding campaign in 2013.

Peloton shares were trading up 2.32% at $56.84 at the time of publication.

The stock has a 52-week high of $58 and a 52-week low of $17.70.

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Analysts Favor Peloton As Stay-At-Home Customers Take To Home Workouts

Peloton Reports Mixed Q3 Earnings, Fitness Subscribers Up 94%

Photo courtesy of Peloton.