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GoPro (GPRO) has a “tremendous franchise” in action cameras and online videos, but upside potential largely has been priced into the company’s recently public stock, Pacific Crest Securities said in a report Tuesday. Pacific Crest analyst Brad Erickson initiated coverage of the stock with a sector perform, or hold, rating. “We think there is optimism already priced in for the holiday quarter as well as around future media monetization opportunities,” Erickson said in his note. “With such a premium built in, we view GoPro’s risk/reward of significant further upside at current levels as relatively unfavorable.” GoPro stock was down 4.5% in morning trading on the stock market today, near 71.50. The stock has fallen the past five trading days after it touched a record high of 98.47 on Oct. 7. GoPro priced its June IPO at 24. “Our scenario analysis gives GoPro credit for hitting more… Scalper1 News
Scalper1 News