NEW YORK (TheStreet) -- Shares of GoPro (GPRO) are down, lower by 5.66% to $59.22 in late morning trading on Thursday, after analysts at Citigroup issued a cautious note this morning on shares of the the wearable action camera maker after speaking with the CEO of iON Cameras -- a rival company of GoPro.

Citigroup reiterated its "neutral" rating, saying it is "incrementally more cautious" on shares of GoPro, as it sees potential risk to its 2015 revenue growth estimate of 22% due to increased competition and a likely industry slowdown following the HERO4 camera launch.

Analysts at the firm noted that iON claims to have the most comprehensive product portfolio in the action camera market with 10 different cameras.

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