Hot Research: Peloton Stock Is Under Pressure as UBS Says to Sell -- Barrons.com
Hot Research: Peloton Stock Is Under Pressure as UBS Says to Sell -- Barrons.com
DJ Hot Research: Peloton Stock Is Under Pressure as UBS Says to Sell -- Barrons.com
DJ熱點研究：Peloton股票因瑞銀稱要拋售而承壓--Barrons.com
(The companies mentioned in Hot Research are subjects of research reports issued recently by investment firms. Their opinions do not represent those of Barrons.com or Dow Jones & Company, Inc. Some of the reports' issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed. Share prices at the time the report was issued and the date of the report are in parentheses.)
(熱點研究中提到的公司是投資公司最近發佈的研究報告的對象。他們的觀點並不代表Barrons.com或道瓊斯公司(Dow Jones&Company，Inc)的觀點。報告的一些發行人已經或希望向被分析的公司提供投資銀行或其他服務。(括號內為報告發布時的股價和報告日期。)
By Connor Smith
康納·史密斯(Connor Smith)著
Peloton Interactive shares are falling after an analyst at UBS said the time has come to sell the stock, a winner in the stay-at-home era.
在瑞銀(UBS)的一位分析師表示，拋售該股的時機已經到來後，Peloton Interactive的股價正在下跌。Peloton Interactive是居家時代的贏家。
UBS analyst Eric Sheridan lowered his rating on Peloton stock (ticker: PTON) to Sell from Neutral in a research note on Monday, though he raised his price target to $124 from $115. He said that while he is still positive about the maker of high-end exercise bikes' long-term prospects, losses for the stock are becoming more likely than gains.
瑞銀(UBS)分析師埃裏克·謝裏丹(Eric Sheridan)週一在一份研究報告中將佩洛頓股票(股票代碼：PTON)的評級從中性下調至賣出，但他將目標價從115美元上調至124美元。他説，儘管他仍然看好這家高端健身自行車製造商的長期前景，但該股下跌的可能性越來越大，而不是上漲。
A Peloton representative didn't immediately offer comment on the downgrade.
佩洛頓的一位代表沒有立即對降級置評。
The stock has more than doubled over the past six months, a gain that Sheridan says indicates investors are already pricing in "robust product sales growth, subscriber growth, & market leadership amid Covid-19" despite increasing competition.
在過去的六個月裏，新冠肺炎的股價上漲了一倍多，謝裏登表示，這一漲幅表明，儘管競爭日益激烈，但投資者已經在消化“強勁的產品銷售增長、訂户增長以及新浪微博的市場領先地位”。
The share price also reflects a high degree of confidence that the company can report near-term operating results that are substantially better than expected, he said, even though the figures will be compared with those from 2020, when pandemic-related demand was lifting sales.
他表示，股價還反映出人們對該公司能夠公佈大幅好於預期的近期運營業績抱有高度信心，儘管這些數據將與2020年的數據進行比較，當時與疫情相關的需求提振了銷售額。
The logistical challenges of meeting that demand are another challenge for the company. Over the holiday season, the shipping window for Peloton's base bike ballooned to four to eight weeks, while its Bike+ offered delivery windows of 10-plus weeks. In December, the company said it was buying fitness provider Precor for $420 million from Amer Sports to improve its manufacturing capacity.
滿足這一需求的後勤挑戰是該公司面臨的另一個挑戰。在假日季節，peloton的基礎自行車的發貨窗口膨脹到了4到8周，而它的Bike+提供了10多周的交付窗口。去年12月，該公司表示，將以4.2億美元從Amer Sports手中收購健身提供商Precor，以提高其製造能力。
Sheridan says the market may be overestimating the impact of the deal, "with the view that it could potentially expand Peloton's business into B2B/commercial channels such as hospitality, corporations, and college/university campuses."
謝裏登説，市場可能高估了這筆交易的影響，“認為它可能會將佩洛頓的業務擴展到B2B/商業渠道，如酒店、企業和學院/大學校園。”
It is a bit of a contrarian call. Of the 27 analysts tracked by FactSet who cover the stock, 23 rae it at Buy or the equivalent. The mean target for the stock price is $152.36, according to FactSet.
這是一個有點逆向操作的預測。FactSet追蹤的27名跟蹤該股的分析師中，有23名在Buy或同等級別的網站上對其進行了Rae It分析。根據factset的數據，該公司股價的平均目標是152.36美元。
Shares were down 5.4% to $149.36 on Tuesday, while the S&P 500 index was up 0.4%.
週二，該公司股價下跌5.4%，至149.36美元，而標準普爾500指數上漲0.4%。
Write to Connor Smith at connor.smith@barrons.com
寫信給Connor Smith，電子郵件：connor.smith@Barrons.com
(END) Dow Jones Newswires
(完)道瓊斯通訊社
January 19, 2021 12:16 ET (17:16 GMT)
2021年1月19日美國東部時間12：16(格林尼治標準時間17：16)
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