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Yesterday, the company resumed selling the lower-end version of its treadmill—its $2,495 Tread product—across the United States, United Kingdom, and Canada. However, sales of its higher-end Tread+, priced at $4,295, are still on hold. As a result, BMO Capital Markets analyst, Simeon Siegel, cut PTON’s price target to $45 per share.
Furthermore, the company’s profitability is expected to be negatively impacted in the near term due to higher costs and a decline in the prices of its exercise bikes.
