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Fly News Breaks for June 29, 2015
GPRO
Jun 29, 2015 | 09:13 EDT
Raymond James analyst Tavis McCourt noted that Google Trends data for the search term “GoPro” decelerated in June, which would normally be consistent in a slowdown in sales growth, but McCourt attributes the slowdown to an anomaly in the year-over-year data due to GoPro's IPO driving search comps higher last year. The analyst noted that the firm's U.S. survey of intended GoPro ownership keeps rising and that its survey of drone interest was encouraging. McCourt keeps an Outperform rating and $63 price target on GoPro shares, noting that he expects the stock to remain volatile.
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