Bank of America upgrades Peloton to buy despite disappointing quarterly results

Published Fri, Aug 27 20219:52 AM EDT

Jesse Pound @/in/jesse-pound @jesserpound

A Peloton exercise bike is seen after the ringing of the opening bell for the company's initial public offering at the Nasdaq MarketSite in New York City, Sept. 26, 2019.

Shannon Stapleton | Reuters

Shares of Peloton were under pressure on Friday after a disappointing quarterly report, but Bank of America said the stock presents significant upside for investors.