FBN Securities Thinks GoPro Inc Has More Room To Go

In a note Monday morning, FBN Securities analyst Shebly Seyrafi maintained his Outperform rating and upped his price target on shares of GoPro Inc GPRO from $70 to $90. This follows the announcement Monday of the new HERO4 and entry level HERO capture devices by GoPro.

Seyrafi feels the company's introduction of the entry-level HERO at a $129 MSRP will allow HERO to better sell into the mass market, while also allowing for upgrade opportunities over time. He also expects strong sales of the new HERO4 Black, with the higher end models accounting for the majority of the revenues.

Seyrafi had initiated coverage oon September 8. Since then, shares of rose 30.4 percent, moving from $58.75 to $89.15.

Shares of GoPro traded recently at $87.09, up 6 percent on the day.