Morgan Stanley Downgrades GoPro (GPRO) to Underweight

January 23, 2018 5:05 AM EST
Get Alerts GPRO Hot Sheet
Price: $11.86 -2.06%

Rating Summary:
    4 Buy, 10 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 13
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Morgan Stanley downgraded GoPro (NASDAQ: GPRO) from Equalweight to Underweight with a price target of $5.00 (from $9.50).

Analyst Yuuji Anderson says improvements to camera usability as not been able to sustain demand and given the limited earnings power, the analyst believes the market place is offering "too much credit to GoPro's strategic value" and therefore downgrades the stock on continued downside risk.

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 $6.30 yesterday.

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