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Peloton's market valuation can double by 2024 with growth similar to Apple and Netflix, says Stifel

Peloton machine
Source: Peloton

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Some investors might view Apple's new fitness service as a threat to Peloton, but Stifel said that is not the case. 

The Wall Street firm sees Peloton's market value doubling to $60 billion from $30 billion over the next four years, with an annualized return of 19%. Stifel arrives at its bold call for Peloton's future by comparing the newly public stationary bike company to streaming pioneer Netflix and technology giant Apple

"We think Peloton is the Apple of fitness, but we don't think Apple is the Peloton of fitness," Stifel analyst Scott Devitt told clients on Tuesday.

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