The firm said it initiated coverage on the maker of mountable and wearable cameras used by extreme sports enthusiasts, due to the company's strong revenue growth.
JPMorgan (JPM) also initiated coverage on GoPro with an "overweight" rating and $51 price target, as the firm says the company is fast growing and profitable.
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GPRO data by YCharts
Shares of GoPro are higher by 2.82% to $42.60 in pre-market trading today.