NEW YORK (TheStreet) -- GoPro (GPRO - Get Report) shares are up 2.1% to $88.80 on Monday after analysts at JMP Securities hiked its price target to $105 from $60, while maintaining its "outperform" rating on the company's stock.

The increased outlook comes after the firm conducted nationwide store checks around the launch of the company's new Hero4 product which revealed customer preference for the new model even though it retails for $100 more than the Hero3 action camera model.

"Between the crisp execution in getting the Hero4 to market in such a timely manner, the impressiveness of its still expanding online media presence, the ongoing no-show nature of any material competitive threat, and the philanthropic generosity of its founder and CEO, our confidence in the GoPro outlook remains strong," said the firm.

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