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Fly News Breaks for March 6, 2017
GRMN, GPRO
Mar 6, 2017 | 05:39 EDT
Goldman Sachs analyst Simona Jankowski downgraded GoPro (GPRO) to Sell and cut her price target for the shares to $6 from $9.50. The maker of wearable cameras closed Friday down 43c to $8.84. The company faces "significant challenges" amid camera market saturation, product rollout issues in the holiday season, and a disappointing entry into the drone market, Jankowski tells investors in a research note. The analyst sees risk to consensus estimates and views the stock as overvalued. Jankowski this morning also upgraded shares of Garmin (GRMN) to Neutral.