Peloton’s already industry-leading position could grow by capturing more corners of the fitness sector, according to Canaccord Genuity. The firm upgraded the fitness software and equipment stock to buy from hold in a Thursday note, and reiterated its $10 per share price target. Canaccord’s 12-month objective equates to nearly 65% upside from Peloton’s close of $6.07 on Thursday. Peloton stock has pulled back more than 32% in just the past month. PTON YTD mountain Peloton stock in 2025. Canaccord analyst Susan Anderson said Peloton has “regained its footing” in the fitness sector, and argued the company could emerge as a leader among its peers. “Peloton is the clear leader in the connected fitness industry, which they invested in early on and built a 6 [million] loyal member base that has a high-margin recurring revenue stream. Since the boom-bust years, [Peloton] has started on a new journey to right-size its cost structure, improve its unit economics, get the balance sheet in shape, and start to grow again,” Anderson said. The analyst added that Peloton could also grow significantly by expanding into health and wellness as well as supplements. “We believe Peloton’s category-leading position in connected fitness sets them up well to follow similar playbooks that other category-defining consumer brands have executed on (i.e. Nike expanding into apparel, Uber into delivery),” Anderson said.
