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Fly News Breaks for December 7, 2015
AMBA, GPRO
Dec 7, 2015 | 06:56 EDT
JPMorgan analyst Paul Coster lowered his near-term estimates for GoPro (GPRO) citing higher than expected Hero discount activity during the holiday season and "weak" guidance from key supplier Ambarella (AMBA). The analyst still expects GoPro to deliver 15% topline growth in 2016 driven by a refreshed Hero Black and Silver product line-up and introduction of new products. He cut his price target for the action camera maker to $45 from $55 and keeps an Overweight rating on the name.
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