GoPro Sees Spike Up As Analyst Quiet Period Ends
As the the analyst quiet period ends for GoPro (NASDAQ: GPRO), a number of firms have initiated coverage on the company.
The general sentiment appears to be that although GoPro is a solid company with a lot of room for growth, the stock's price already adequately reflects this.
A list of some of the firms that have initiated coverage on GoPro Monday can be found below.
- Barclays: Equal-weight, $45 price target
- "The 'Be a Hero' tag line is well recognized and has significant brand value, in our view. With nearly $1 billion in device and accessory revenues in 2013 its owns the action camera category."
Stifel: Hold, N/A
"Although we see three-year earnings and cash flow growth as compelling and are enthused by the potential for a multi-faceted media platform, we believe the current share price adequately balances earnings power and media potential against execution risk."
JP Morgan: Overweight, $51
"GoPro is a profitable, fast-growth CE company, addressing a large market as the category-defining brand in professional-quality action cameras at consumer prices."
- Piper Jaffray: Overweight, $48
- Baird: Neutral, $43
Shares of GoPro reacted favorably, spiking up as much as four percent. The stock closed Monday at $41.58, up 0.56 percent from the previous close.
Latest Ratings for GPRO
|Sep 2016||Bank of America||Initiates Coverage on||Buy|
|Jun 2016||Longbow Research||Initiates Coverage on||Neutral|
|Feb 2016||Morgan Stanley||Maintains||Underweight|
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