Peloton Interactive( PTON ) - Get Reportwas removed from Wedbush’s Best Ideas List based on valuation. But the firm’s James Hardiman affirmed his outperform rating and $63 share-price target on the market’s fitness-product darling.

Peloton stock traded at $22.25 when Wedbush placed the shares on the Best Ideas List in mid-March. At last check the shares were up 2.2% at $60.48, nearly triple that figure in 3 1/2 months. They traded on Monday at a 52-week high above $62.

Hardiman remains of the “belief that the company has considerable runway for outsize growth,” he wrote in a commentary cited by Barron’s.

Peloton represents more than just a fad, as some critics have charged, with many people staying at home around the country in fear of the coronavirus, Hardiman said. The company has a hefty order backlog

Many wealthy people will shy away from public gyms, even after cities ease their coronavirus restrictions, pushing them to Peloton, he said.

Last week, Peloton and streaming platform Roku( ROKU ) - Get Reportsaid that a Peloton app is now available on Roku.

Peloton’s channel provides thousands of instructor-led, immersive workouts that people can do with or without equipment.

The Peloton channel uses Roku Pay and costs $12.99 per month after a free 30-day trial. Current Peloton users also can access the channel over Roku.

“As people continue to stay home, the television is increasingly becoming their window to the world, providing virtual access to the gym, travel, food, learning and more,” said Regina Breslin, Roku’s director of content acquisition, said in a statement.