BUZZ-J.P. Morgan raises Peloton PT on subscriber strength, margin expansion

** Brokerage J.P. Morgan raises PT on connected fitness company Peloton PTON.O to $8 from $7

** Brokerage says co maintains a solid brand with a valuable subscriber base with less than 2% monthly churn

** Says co is optimizing toward profitable growth while innovating products and expanding its reach

** "Gross margins are improving through mix-shift toward subscription, price increases, rationalized promotional activity, mix-shift toward higher-margin products (Tread portfolio), and supply chain cost improvements," brokerage says

** New PT is a 5.8% downside to stock's last close

** PTON raised its core profit forecast for fiscal year 2025 on Thursday

** Co expects 2025 adj core profit in the range of $300 mln to $350 mln, compared with the $240 mln to $290 mln range it forecast earlier

** Three of 22 brokerages rate stock "buy" or higher, 18 "hold", and one "sell"; median PT is $10 - data compiled by LSEG

** Stock rose 42.9% in 2024