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Fly News Breaks for April 15, 2016
GPRO
Apr 15, 2016 | 06:53 EDT
Piper Jaffray analyst Erinn Murphy maintains an Underweight rating on GoPro after her firm's survey of tends indicated overall camcorder ownership declined to 28% versus 31% last Spring. Camcorder ownership among teens was north of 40% in 2013, the analyst points out. GoPro "has gained share in a declining category," Murphy tells investors in a research note. She has a $7 price target for the action camera maker and keeps a "cautions stance" on GoPro shares.
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