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Goldman hikes Peloton's target to Street high, says growth is undervalued in the stay-at-home name

A monitor displays Peloton Interactive Inc. signage during the company's initial public offering (IPO) across from the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019.
Michael Nagle | Bloomberg | Getty Images

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Wall Street is underestimating high flying fitness stock Peloton's growth potential even after rallying nearly 140% this year, according to Goldman Sachs. 

The Wall Street firm — which has a buy rating on the stationary bike company — hiked its 12-month price target to $96 from $84 per share, sending shares of Peloton up more than 3% in premarket trading on Thursday. Goldman's new target is the highest on Wall Street, implying more than 42% upside for the "stay at home" stock. 

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