As previously reported, Longbow analyst Joe Wittine downgraded GoPro to Underperform from Neutral, as he predicts "another" Q4 camera sales miss as "a near-certainty." To support his call, Wittine cites December consumer searches turning "decidedly negative" and GoPro's funding of "backdoor discounts" via 10%-15% gift cards at several retailers. The rating call is "inherently short-term in nature," however, since "M&A rumors are prevalent" and he can certainly envision the company seeking a buyer, added Wittine, who set a $7 price target on GoPro shares.