Peloton Interactive (PTON) surged 18.77% on Wednesday, closing at $7.34 per share after an investment firm gave a bullish rating, suggesting the stock could nearly double. UBS raised PTON’s price target to $11 from $7.50 and upgraded its recommendation to “buy” from “neutral.”

UBS predicts that Peloton Interactive (PTON) could save $80 million on top of its $200 million target by cutting expenses and technology spending. The company is also expected to achieve between $400 million and $450 million in EBITDA next year, surpassing Wall Street’s consensus of $358 million.

Peloton Interactive (PTON) is set to release its fourth quarter and full-year financial results for fiscal year 2025 on Thursday, August 7. An investor conference will be held at 8:30 AM to discuss the results. Investors are advised to consider other AI stocks with higher return potential and limited downside risk.

Read more at Yahoo Finance: Peloton (PTON) Climbs 18.8% on Bullish Analyst Rating, Potential to Double Share Price