FBN Securities is out with a massively bullish note on GoPro Inc GPRO this morning, arguing that the stock is "very attractive" at $42. The analysts reiterated their Outperform and $75 price target.
In the note, FBN debunked the concerns around the Xiaomi Yi camera, calling reaction "overblown." Pointing to recent reviews of the product, FBN analysts argued that consumers get what they pay for – the Yi's picture quality, lens and poor performance in dynamic light situations were key negatives.
Additionally, GoPro investors should be buoyed by Ambarella Inc's AMBA strong recent performance. That, combined with upside potential to GoPro's gross margins, means that the company is in for a strong quarter, the analysts argued.
Act now, FBN suggested, as this is a limited opportunity to "buy a category killer at an attractive price."
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