What happened Shares of Peloton Interactive (NASDAQ: PTON) rode higher today, rising as much as 5% after a Wall Street analyst reiterated a buy rating ahead of the connected fitness company's earnings release. As of 12:10 p.m. EST, the stock was up 4%. So what Rosenblatt Securities analyst Bernie McTernan reiterated his buy rating on Peloton shares and boosted his price target on the stock from $130 to $140. Details around the call were not immediately available, but McTernan had previously put out a research note last month detailing how Peloton would benefit from secular changes in the fitness industry that the COVID-19 pandemic is catalyzing. Image source: Peloton. "Results [from a recent survey] indicate consumers continue to have apprehension on returning to gyms," McTernan said last month. "Lower demand and capacity limits are driving continued gym closures." Separately, Needham boosted its price target on Peloton shares earlier in the week from $110 to $125 while similarly maintaining a buy rating. Analyst Laura Martin also suggested that many consumers remain hesitant to return to public gyms due to coronavirus-related safety concerns. Now what Peloton is set to report fiscal first-quarter 2021 results tomorrow after the market closes. Analysts are expecting the fitness technology company to report $748 million in revenue and earnings per share of $0.11. Peloton's guidance calls for revenue of $720 million to $730 million, which would represent 218% growth at the midpoint. The company expects to finish the quarter with 1.32 million to 1.33 million Connected Fitness subscribers, which would represent 135% growth at the midpoint. Looking farther out, McTernan is modeling for Peloton to report earnings per share of $0.48 in the calendar fourth quarter. 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 October 20, 2020 Evan Niu, CFA owns shares of Peloton Interactive. The Motley Fool owns shares of and recommends Peloton Interactive. The Motley Fool has a disclosure policy.Source