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Fly News Breaks for February 1, 2016
GPRO
Feb 1, 2016 | 07:57 EDT
Citi analyst Jeremy David calls the Q1 consensus revenue estimate for GoPro of $297M "too optimistic." Continued challenging sell-through and likely inventory destocking make a $230M-$250M range for Q1 revenue more plausible, David tells investors in a pre-Q4 earnings research note. The analyst lowered his estimates for the action camera maker and keeps a Neutral rating on the name. He has a $12 price target for the shares. Piper Jaffray this morning cut its price target on GoPro to $7.50.
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