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Fly News Breaks for February 4, 2016
GPRO
Feb 4, 2016 | 06:44 EDT
JPMorgan analyst Paul Coster lowered his price target for GoPro to $17 saying the company's Q1 results and guidance "fell well short of consensus expectations." The action camera maker "previously paid lip-service to delivering both growth and profitability, but 2016 will probably yield little of either," Coster tells investors in a research note tiled "Not for the Faint of Heart." He keeps an Overweight rating on GoPro, however, saying the stock should "grind higher" over the course of 2016 as new products launch. He recommends risk-averse investors "observe at a distance."
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