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Fly News Breaks for April 17, 2018
GPRO
Apr 17, 2018 | 09:40 EDT
Longbow analyst Joe Wittine places the odds of GoPro being bought this year at "60/40," which he calls "alluring, but not quite enough" for him to raise his Neutral rating on the stock. Xiaomi's push to enter U.S. consumer tech markets has not been successful thus far and he can envision a strategy of buying GoPro to leverage its brand in the U.S. and China, Wittine tells investors. However, a Xiaomi tie-in could theoretically cheapen GoPro's brand, he also acknowledges. The analyst also notes that the price of the HERO5 Black was cut over the weekend to $250 from $300 through April 28.