Video: GoPro cameras outpace the competition in video quality
Action camera maker GoPro (GPRO) has attracted a lot of competitors to the market it created. But so far its devices continue to dominate the category thanks to their superior quality, FBN Securities said in a research note Monday. FBN analyst Shebly Seyrafi initiated coverage of GoPro with an outperform rating and price target of 70. GoPro stock was up 6.5% in afternoon trading on the stock market today, near 62.50, and GoPro stock hit an ll-time high for the fifth day in the past six trading days. GoPro made its initial public offering in June, pricing its shares at 24. GoPro sells “best-of-breed action cameras … that are known for very good image resolution,” Seyrafi said. “With only 3.8 million units shipped in 2013 (vs. 30 million portable navigation devices in the U.S. and 90 million digital cameras and camcorders), the company has ample runway ahead to drive strong…