** Brokerage J.P. Morgan raises PT on connected fitness company Peloton PTON.O to $8 from $7
** Brokerage says co maintains a solid brand with a valuable subscriber base with less than 2% monthly churn
** Says co is optimizing toward profitable growth while innovating products and expanding its reach
** "Gross margins are improving through mix-shift toward subscription, price increases, rationalized promotional activity, mix-shift toward higher-margin products (Tread portfolio), and supply chain cost improvements," brokerage says
** New PT is a 5.8% downside to stock's last close
** PTON raised its core profit forecast for fiscal year 2025 on Thursday
** Co expects 2025 adj core profit in the range of $300 mln to $350 mln, compared with the $240 mln to $290 mln range it forecast earlier
** Three of 22 brokerages rate stock "buy" or higher, 18 "hold", and one "sell"; median PT is $10 - data compiled by LSEG
** Stock rose 42.9% in 2024
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com;))
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