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July 13, 2014
17:44 EDTGPROGoPro could be vulnerable to smartphones, Barron's says
Smartphones have disrupted the camera market and once wearable mounts for smartphones are perfected, GoPro's cameras could lose their competitive advantage in the wearable camera market, Barron's argues in its "Technology Trader" column. Reference Link
News For GPRO From The Last 14 Days
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July 23, 2014
15:28 EDTGPROGoPro August volatility increases into Q2
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July 21, 2014
10:45 EDTGPROAnalysts roll out coverage on GoPro with differing views
Shares of GoPro (GPRO) are climbing after a number of analysts initiated coverage of the stock with different outlooks. GoPro develops mountable and wearable cameras. BULLISH TAKE: JPMorgan analyst Paul Coster initiated coverage of GoPro with an Overweight rating. GoPro is gaining share in the digital camcorder market, and it has begun to penetrate "active lifestyle" markets, which are a much larger opportunity for the company, Coster believes. The company could ship 10M of its products for use by active lifestyle participants annually, the analyst estimated. In a best case scenario, the company could also sell low-cost devices for the mass market, according to Coster. However, GoPro will face competition from major companies, including Google (GOOG) and possibly Apple (AAPL) in this market, warned Coster, who set a $51 price target on GoPro. Also initiating coverage of the name with an Overweight rating was Piper Jaffray analyst Sean Naughton. GoPro is in the early stages of growth, as the company's user base is poised to expand beyond extreme sports enthusiasts, the analyst forecast. The company has a competitive advantage over other brands, which should enable it to maintain strong profitability, added Naughton, who set a $48 price target on the shares. BEARISH TAKE: Stifel analyst Jim Duffy started coverage of GoPro with a Hold rating. The company's three year growth outlook is compelling, but the stock is fully valued, the analyst believes. The company faces a number of risks, including competition in the image device market and the possibility that its relationship with key channel partners, including Best Buy (BBY), could be disrupted, the analyst wrote. Sales to Best Buy accounted for 17% of GoPro's revenue in fiscal 2013, Duffy reported. After GoPro surged following its initial public offering, the stock is likely to advance by only limited amounts, wrote Barcalys analyst Joseph Wolf, who initiated coverage of the shares with an Equal Weight rating. The stock could fall to $30 if the company is unable to increase its hardware sales or make progress in its efforts to develop a media business, the analyst warned. He set a $45 price target on the shares. PRICE ACTION: A total of seven analysts rolled out coverage today on GoPro, according to The Fly’s research, with only two recommending the stock with buy-equivalent ratings. Shares of the camera marker are up 3%, or $1.10, to $42.53 in morning trading.
10:36 EDTGPROGoPro initiated with a Market Perform at Raymond James (pre-open)
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10:02 EDTGPROOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adeptus Health (ADPT) initiated with a Buy at Dougherty... Amphastar (AMPH) initiated with a Buy at Jefferies... Eclipse Resources (ECR) initiated with a Neutral at SunTrust... Fidelity National (FNF) initiated with a Buy at SunTrust... First American (FAF) initiated with a Buy at SunTrust... GoPro (GPRO) initiated with a Hold at Stifel... Imprivata (IMPR) initiated with an Outperform at Wells Fargo... Lifetime Brands (LCUT) initiated with a Buy at Sidoti... Materialise (MTLS) initiated with a Buy at BB&T... Regeneron (REGN) initiated with a Buy at Argus... STAG Industrial (STAG) initiated with a Buy at Sandler O'Neill... Signature Group (SGGH) initiated with a Buy at B. Riley... TCP International (TCPI) initiated with a Buy at Canaccord... Tessera (TSRA) initiated with a Buy at Craig-Hallum... Xunlei (XNET) initiated with a Perform at Oppenheimer.
09:10 EDTGPROOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
06:14 EDTGPROGoPro initiated with a Neutral at Citigroup
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05:51 EDTGPROGoPro initiated with an Overweight at Piper Jaffray
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05:34 EDTGPROGoPro initiated with a Hold at Stifel
Stifel started shares of GoPro with a Hold rating, saying the current valuation adequately balances earnings power and media potential against execution risk.
05:31 EDTGPROGoPro initiated with an Overweight at JPMorgan
JPMorgan expects further upside in shares of GoPro to be driven by first-time adoption of the company's cameras in various categories over the next three years. The firm started shares with an Overweight rating and $51 price target.
05:26 EDTGPROGoPro initiated with an Equal Weight at Barclays
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05:24 EDTGPROGoPro initiated with a Neutral at RW Baird
RW Baird views GoPro shares as fairly valued at current levels. The firm started the stock with a Neutral rating and $43 price target.
July 18, 2014
08:43 EDTGPROGoPro volatility increases into Q2
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July 15, 2014
10:28 EDTGPROGoPro rallies after analyst puts $60 price target on shares
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10:08 EDTGPROGoPro gaps up at open, runs higher
The shares were last at $40.17, trading up over 9%. JMP Securities earlier initiated coverage at Outperform and put a $60 price target on the shares. At current price next resistance is at $40.74. Support is at $39.44.
10:00 EDTGPROOn The Fly: Analyst Initiation Summary
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09:21 EDTGPROOn The Fly: Pre-market Movers
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07:00 EDTGPROGoPro initiated with an Outperform at JMP Securities
JMP Securities started shares of GoPro with an Outperform rating saying it views the brand as a "highly leveragable asset." It estimates the company is pursuing a greater than $70B total addressable market across cameras and wearables, channel advertising, and other accessory and multimedia content opportunities. The set a $60 price target for shares.
July 13, 2014
17:44 EDTGPROGoPro could be vulnerable to smartphones, Barron's says
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