What happened Shares of Peloton Interactive (NASDAQ: PTON) rose 6.5% on Wednesday, following a series of analyst price-target hikes. So what On Tuesday, Peloton announced a new, lower-priced treadmill designed to bring even more people into the company's ballooning, connected-fitness subscriber base. Peloton also slashed the price of its existing exercise bike and debuted a higher-priced model with additional features geared toward providing customers with a total-body workout experience. In a press release, CEO John Foley said: Our goal is to be the go-to at-home fitness solution for as many people as possible, and with these new product launches, we'll be able to offer access to Peloton's best-in-class fitness content at various price points, depending on what consumers are looking for, especially in a world where people are increasingly working out at home. Multiple analysts reiterated their buy ratings on Peloton's stock on Wednesday. Image source: Getty Images. Wall Street liked what it heard. On Wednesday, analysts at Goldman Sachs, Bank of America, and Wedbush raised their price forecasts for Peloton's shares. Goldman Sachs analyst Heath Terry, who placed a Street-high $110 target price on Peloton's stock, expects these new products and price cuts to boost the company's growth in the year ahead. Now what Peloton is scheduled to release its fourth-quarter financial results on Thursday, Sept. 10. Investors can tune in to its earnings call at 5:00 p.m. EDT that same day to hear more from the company's management team regarding their new product strategy. 10 stocks we like better than Peloton InteractiveWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Peloton Interactive wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Peloton Interactive. The Motley Fool has a disclosure policy.Source