Wedbush Retains Outperform on GoPro (GPRO) Amid Faith in HERO5s and Karma Potential

November 4, 2016 8:55 AM EDT
Get Alerts GPRO Hot Sheet
Price: $9.15 -0.76%

Rating Summary:
    5 Buy, 12 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Wedbush analyst Nick McKay cut his price target on GoPro (NASDAQ: GPRO) to $12.00 (from $17.50) following weak results on supply issues but retains an Outperform rating saying the remain confident in the sales potential of the HERO5s and Karma.

McKay commented, "We believe that the new HERO5 cameras and Karma drone have compelling feature sets and superior branding that should make them popular with an increasing number of consumers as supply constraints ease. Despite execution missteps, we are unwilling to give up on GoPro shares until we get better clarity into the sustainability of sales once the HERO5s and Karma have fully ramped. We remain OUTPERFORM-rated on valuation."

For an analyst ratings summary and ratings history on GoPro click here. For more ratings news on GoPro click here.

Shares of GoPro closed at $11.94 yesterday.

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