After seeing tremendous pressure over the past few weeks, shares of GoPro (NASDAQ: GPRO) are up 4.4% Monday, benefiting from two items: 1. The WSJ posted a bullish-leaning Heard on the Street Column "Shredded GoPro Finally Looks Like a Deal"; 2. Northland Capital Markets analyst Gus Richard reiterating an Outperform rating and $80 price target, saying the weakness creates a compelling entry point. He also sees the company as a potential takeover candidate for a company like Apple (NASDAQ: AAPL).

In his report, Richard trimmed 2nd-half estimates out of an abundance of caution as sales of GPRO’s new camera are slower than expected. However, they believe that there is upside to our CY16 estimates driven by the launch of GPRO's drone. The firm also said GoPro's growing sports content and video ecosystem makes it a compelling acquisition target for Apple and other companies seeking original content.

Elaborating further on the takeover prospects, Richard highlights the old saying "content is king." He points to Netflix's success in original content and more recently rumors have surfaced that Apple considering creating its own original TV shows and movies. "Clearly original content has significant value," he comments. "GoPro is working with the NHL, sponsoring athletes, and is aggregating compelling content. While how GoPro monetizes its content is up in the air, it is adding unrecognized value to the franchise. Moreover, we think GoPro would be an interesting acquisition for Apple from both a hardware, software, and content prospective."

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Shares of GoPro closed at $32.42 yesterday.