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Fly News Breaks for June 10, 2015
GPRO
Jun 10, 2015 | 13:04 EDT
With shares of GoPro down 2% after Citi cut its estimates for the company below consensus, Piper Jaffray analyst Erinn Murphy says she is "highly confident" in her numbers for 2015. After hosting a fireside chat today with GoPro CFO Jack Lazar and President Tony Bates, Murphy continues to believe the consumer brand affinity for GoPro is underappreciated by investors. This is in contrast to Citi analyst Jeremy David, who sees a "slimmer" chance of the company's action cameras going mainstream following the firm’s consumer survey. Murphy found GoPro management bullish on opportunities in new verticals and believes the company's new product launches continue to expand the action camera market. She recommends buying the stock on today's weakness and reiterates an Overweight rating on the name with a $68 price target. Shares of GoPro are down 96c to $57.72 in afternoon trading. They hit $55.15 in early trading.
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