JMP Securities analyst Alex Gauna raised his earnings estimates for GoPro after his channel checks across North America and Europe indicated a "healthy pace" of off-season demand activity. In addition, GoPro's second half of 2016 entry into the "booming" drone market should bring "rapid growth." The move into drones and virtual reality will increase the action camera maker's total addressable market by billions of dollars by 2020, Gauna tells investors this morning in a research note. He raised his 2016 earnings per share estimate for GoPro to $2.10 from $2.00, above the consensus estimate of $1.95, and keeps a $105 price target for shares. The stock closed yesterday down $3.05 to $54.92.