Citi analyst Jeremy David sees "slimmer" odds of GoPro devices going mainstream after the firm's second annual action camera survey indicated only 5% of U.S. consumers plan on purchasing an action camera in the next 12 months. Last year, Citi's survey indicated 7% of U.S. consumers planned on purchasing an action camera. David says this morning in a research note that while the action camera category has little competition, the rise of drones could slow growth in the space. The analyst cut his 2015 earnings per share estimate for GoPro to $1.55, 11c below the consensus, as well as his 2016 estimate to $1.86, 10c below the Street. He keeps a Neutral rating on GoPro with a $56 price target. Shares of HERO camera maker are down $1.93 to $56.75 in pre-market trading.