Peloton PTON shares are trading higher on Monday after Stifel reiterated a Buy rating on the stock and raised its price target from $55 to $62, citing gym closures and shifts in consumer behavior as catalysts that could fuel "holiday-like demand."
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 5.15% at $53.51 at the time of publication on Monday. The stock has a 52-week high of $55.03 and a 52-week low of $17.70.
Related Link:
Analysts Favor Peloton As Stay-At-Home Customers Take To Home Workouts
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