Investors Should Reward GoPro (GPRO) For New Products - Dougherty & Co
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Dougherty & Co analyst, Charles Anderson, reiterated his Neutral rating on shares of GoPro (NASDAQ: GPRO) after the company announced its new lineup of GoPro cameras - Hero 5 Black ($399) and Hero 5 Session ($299), and debuted its Karma drone ($799 w/o a camera; or $999 w/H5 Black and $1,099 w/H5 Session). The drone is compatible with both the Hero 4 and Hero 5 cameras and can be collapsed to fit into a backpack carrying case. The Karma drone also includes a removable stabilizer that be used to smooth out footage on a standalone GoPro cameras, similar to the $569 DJI Osmo.
The analyst summed up his thoughts by stating "The Hero5 cameras look like a major improvement over the Hero4 cameras, which had all kinds of compromises. By comparison, the Karma drone does seem to have some compromises typical of a first gen product. Given that the performance of the camera is far more critical at this point, we can see investors rewarding GoPro short-term".
Shares of GoPro closed at $15.31 yesterday.
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