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Fly News Breaks for February 4, 2016
GPRO
Feb 4, 2016 | 06:49 EDT
Dougherty analyst Charles Anderson downgraded GoPro to Neutral from Buy saying forecasts were worse than feared. The analyst said the company's level of spending is "staggering" and estimates GoPro will spend over half its 2016 revenue on operating expenses. Anderson is concerned about the company's strategy to spend its way out of its situation and notes he cannot find another example of a consumer electronics company of this size that was successful in deploying this strategy.
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