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Fly News Breaks for May 24, 2016
GPRO
May 24, 2016 | 11:54 EDT
Stifel analyst Jim Duffy said the economic benefit to GoPro from the company's newly-announced partnership with Red Bull is uncertain and does not change the outlook for the action camera maker to lose money and burn cash in this fiscal year and next. Duffy, who notes the customer base of Red Bull media and GoPro have a lot of overlap, adds that a deal that reaches beyond the core action sports customer would prove more incremental. The firm keeps a Hold rating on GoPro shares.
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