Peloton's Longest Bull Throws in Towel After Record Stock Rally [BNN Bloomberg (Canada)]
Oppenheimer Holdings, Inc. Class A (DE) (OPY)
US:NYSE Investor Relations:
opco.com/investor-relations/index.aspx
Company Research
Source: BNN Bloomberg
Shares of the New York City-based company soared as much as 41% on Thursday after it reported earnings that beat analysts' estimates, signaling to investors that its turnaround efforts, which are sharply focused on profitability, are starting to yield results. While the beleaguered fitness company's earnings are improving, JPMorgan Chase & Co. analyst Douglas Anmuth — who had maintained an overweight rating on the stock since initiating coverage in 2019 — downgraded the stock to neutral, saying there's limited visibility given the macro pressures and a return to revenue growth remains challenging. Anmuth was Peloton's oldest bull on Wall Street, sticking to his bullish call even as shares of the company tumbled almost 80% since his initial rating. Peloton was a Wall Street darling in the early days of the pandemic as consumers clamored for its stationary bikes and fitness classes during the lockdowns. But as people returned to gyms, the company's revenues fell, sending its shares
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Sec Filings
- 9/19/24 - Form 8-K
- 8/19/24 - Form 4
- 8/1/24 - Form 4
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