GoPro, Inc. (GPRO)

[JohnSamuel]

Another reason GPRO is down this morning, but analyst says he is an aggressive buyer at this level ... :

Shares of GoPro Inc. (GPRO) fell 4% Monday after Chinese smartphone company Xiaomi launched a wearable action camera that offers many of the features of GoPro's Hero camera, but retails at half the cost. The Yi Action Camera will sell for $64 , compared with $130 for the low-tier GoPro Hero, though it will initially only be available in China . Northland Capital Markets analyst Gus Richard said that while GoPro has a new competitor in Xiaomi, he believes its entrance validates GoPro's business model and shows there is room for growth. He maintained an outperform rating and $70 price target on GoPro's stock and said he would be an aggressive buyer of GoPro shares at current levels. GoPro's stock has lost 45% over the last 3 months.
- Jennifer Booton ; 415-439-6400; [e-mail]
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03-02-15 0935ET