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Why Peloton's Stock Is Trading Higher Today

Peloton (NASDAQ: 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.

Benzinga · -

Peloton (NASDAQ: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.

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