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Bank of America slashes Peloton target after regulator issues safety warning on treadmills

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Maggie Lu uses a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada.

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Safety concerns about Peloton‘s treadmill product could dampen the company’s subscriber growth, Bank of America said in a note to clients on Monday.

On Saturday, U.S. Consumer Product Safety Commission warned that people should not use Peloton’s Tread+ if children or small pets are at home. The stock was down more than 6% in premarket trading on Monday.

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