shares of peloton interactive inc fell 63 to 962 friday after ubs cut its price target for the maker of bikes and treadmills because of lower sales and a subdued profitability outlook analyst arpine kocharyan said in a note that pelotons lower revenue run rate and limited cost cutting were cause for a new price target of 8 a share from the prior target of 13 a share the company previously announced an initiative to cut 800 million in costs and ms kocharyan said the company is tracking around 500 million in operating expense savings the remaining 300 in savings targeted under costs of goods sold could take longer to achieve given rightsizing of supply chain and inventory backlog peloton posted losses of more than 12 billion in the mostrecent quarter as revenue plunged and the company warned it would spend more cash than it brings in for several more months