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Fly News Breaks for October 14, 2015
UA, VFC, GPRO
Oct 14, 2015 | 06:48 EDT
Piper Jaffray analyst Erinn Murphy downgraded GoPro (GPRO) to Neutral from Overweight after her firm's survey of 9,400 teens indicated softening consumer demand. Only 1.0% of the teens surveyed listed GoPro as a top-two gift wish for holiday, Murphy told investors last night in a post-close research note. This is down from 1.6% in Piper's Spring survey and 1.3% in the firm's Fall 2014 survey, she pointed out. She prefers to "sit on the sidelines" with regards to shares of GoPro into the holiday season, pointing out that "no new products likely on deck." Murphy cut her price target for shares to $25 from $54. The action camera maker closed yesterday down 27c to $31.47. The analyst last night also upgraded VF Corp. (VFC) to Overweight and downgraded Under Armour (UA) to Neutral.
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