Shares of fitness program company Peloton have dropped nearly 19% since its public debut last month, but Wall Street firms including J.P. Morgan, Barclays and UBS began covering the stock on Monday with bullish forecasts. "We believe Peloton is well positioned to disrupt the fitness industry," J.P. Morgan wrote in a note to investors. Raymond James thinks Peloton has "a clear path" to profitability, saying the company's profit outlook is "more than the market gives it credit for."