GoPro (GPRO) Stock Is Up Today Following Positive Analyst Note

GoPro (GPRO) stock is higher this morning after FBN issued a positive note on the action camera maker.

By Kurumi Fukushima , Mar 25, 2015 9:45 AM EDT

NEW YORK (TheStreet) -- Shares of GoPro (GPRO) - Get Report are up 4.18% to $43.58 in early market trading Wednesday, after analysts at FBN Securities "strongly" recommended purchasing shares of the action camera maker this morning.

Analysts at the firm said that at around $42, GoPro shares are "especially attractive."

FBN analysts noted that the stock has sold off despite the camera maker's "robust" growth rates, and is currenlty down 58% from its one-year high of $98 per share.

The firm added that concerns related to rival camera maker Xiaomi's entry into the sports camera market with its cheaper Yi Action Camera are overblown.

FBN reiterated its "outperform" rating with a $75 price target.

GoPro, formerly Woodman Labs, develops mountable and wearable cameras as well as other hardware and software products to help consumers more easily capture, manage, and share their content.

Insight from TheStreet's Research Team:

Timothy Collins commented on GoPro in a recent post on RealMoney.com. Here is what Collins had to say about the stock:

I am watching for a good-size move in GoPro (GPRO). The stock is near the bottom a very bearish channel spanning the last four-plus months. It actually looks like it could be a trading buy here. A very clear bottom has formed at $37 in the short term, and the resistance for the stock looks to be in the $45-$47 area.
Also, we have some oversold areas to work off right now. I would absolutely want to define risk here, so calls, or more preferably April call spreads, look like an attractive play. Usually a position like an April $39-$44 call spread for a little under $2, or the April $40 call for $2.30 for the more aggressive trader, looks like an attractive risk-reward here. While I'm not big on the valuation or even the long-term prospects at these prices, I view the short term as a different story and one I'm willing to risk.