Dougherty Analyst: GoPro Inc Cop Cams 'Far-Fetched' Despite Share Rally
Although some have speculated that GoPro, which makes helmet-mounted cameras popularized by amateur sports daredevils, could enter the law enforcement market, an analyst Tuesday said that may be unlikely.
Dougherty & Co.'s Charles Anderson called the idea "far-fetched" because GoPro's technology is designed to offer relatively high-quality video at recording times of up to three hours, whereas the law-enforcement market requires an "always-on solution."
"What Taser makes seems more relevant," Anderson told StreetInsider.com.
Both Taser International and Digital Ally have seen major share rallies in the wake of civil unrest in Ferguson, Missouri, and calls to expand the use of body-mounted law enforcement cameras.
Separately, Anderson issued a bullish outlook on GoPro's prospects for holiday sales of its products in retail stores.
GoPro (NASDAQ: GPRO), which went public in June at $24 a share, traded recently at $54.19, up 4.6 percent.
Latest Ratings for GPRO
|Jun 2016||Longbow Research||Initiates Coverage on||Neutral|
|Feb 2016||Dougherty & Company||Downgrades||Buy||Neutral|
|Feb 2016||Sterne Agee CRT||Downgrades||Buy||Neutral|
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