Stifel analyst Scott Devitt raised the firm’s price target on Peloton Interactive (PTON) to $50 from $42 and reiterates a rating on the shares. The stock in premarket trading is up 16%, or $6.19, to $44.22. Don’t be fooled by the pickup in demand caused by COVID-19, “it is just the beginning,” Devitt tells investors in a research note following last night’s Q1 results. Peloton will grow into a multi-product hardware platform beyond bike and tread to match its “unparalleled content,” says the analyst. He believes that like Netflix (NFLX), Peloton can pay more for content than its competition given its large and growing subscriber base. Peloton is an “unstoppable juggernaut to be stopped only by way of self-inflicted wound from here,” contends Devitt.