UPDATE: FBN Securities Initiates Coverage On GoPro Inc

Analysts at FBN Securities initiated coverage on GoPro Inc GPRO with an Outperform rating and $70 price target.

Analysts highlight reasons for the initiation:

• Best-of-breed in action cameras. GoPro’s new HERO product line offers the best action camera.
• Expanding into content management with GoPro Studio and GoPro App.
• Large international growth opportunity/strong distribution. GoPro Currently receives 38% of its revenue from international markets.
• GoPro is becoming a household brand.

Shares of GoPro traded recently at $57.40, down 2.3 percent.