Peloton’s 2020 Rally Tops 470% in Wake of Lauded Precor Deal (1)

Peloton Interactive Inc. shares soared on Tuesday, with the stock extending a move into record territory after it agreed to buy fitness-equipment company Precor, an acquisition that received rave reviews from Wall Street analysts.

A number of firms raised their price targets on the stock, seeing the deal as a way for Peloton to improve its manufacturing capacity and meet the elevated demand its exercise equipment has been seeing.

The stock gained as much as 14% and was on track for its seventh straight advance, its longest streak since February. The shares have gained as much as 40% over ...