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Why Peloton's Stock Is Trading Higher Today

Peloton (NASDAQ: 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.

Benzinga · -

Peloton (NASDAQ: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.

Related Links:

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.