Peloton has few ‘legitimate’ threats in at-home fitness space: Wedbush


Peloton is well-positioned to dominate the at-home fitness category because there are few serious competitors, Wedbush analyst James Hardiman told CNBC on Wednesday.

“Very few of the many alternatives that are out there really rose to the level of being a legitimate threat to Peloton,” Hardiman said on “Closing Bell,” referencing survey work his firm conducted for a recent client note.

In that note Tuesday, Wedbush initiated coverage of Peloton with an outperform rating while placing a $37 price target on the stock. It represents a roughly 25% increase from where shares of Peloton closed Tuesday.

The stock was up around 2% on Wednesday, trading around $30. It notched an intraday high of…


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