Peloton's 34% Plunge Is a Buying Opportunity as Customer Complaints Ease, Says Analyst

The supply chain woes that have dogged Peloton Interactive (NASDAQ: PTON) during the COVID-19 pandemic are apparently easing, as negative customer comments on the Better Business Bureau's website are down "significantly." MKM Partners analyst Rohit Kulkarni says that means the 34% plunge the home fitness equipment maker's stock has suffered makes Peloton an "attractive" buying opportunity, though he maintains his $130 per share price target. Overwhelming demand for Peloton's connected treadmills and exercise bikes swamped the equipment maker as consumers began working out at home after gyms were forced to close during the coronavirus outbreak.