Why GoPro (GPRO) Stock Is Rising Today

NEW YORK (TheStreet) -- Shares of GoPro Inc (GPRO) are up 2.58% to $93.29 in pre-market trading after the wearable camera company had its price target raised to $94 from $70 at Citigroup, following the announcement of its most affordable $130 portable camera, the HERO4.

Citigroup said it expects half of the high-end GoPro customers will buy the $500 HERO4 Black, which would offset the pricing pressure of the cheaper products.

Analysts at the firm added that GoPro shares could continue to climb if new products sales are strong in the fourth quarter.

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