GoPro (GPRO) Stock Rising After Oppenheimer Upgrade

NEW YORK (TheStreet) -- Shares of GoPro (GPRO) are rising, up 1.76% to $50.97 in early market trading Monday, after analysts at Oppenheimer upgraded the company to "perform" from "underperform" this morning.

The firm said the company has no notable near-term headwinds, and entry into East Asia should help deliver growth this year.

Still, the firm warned that its long-term negative bias on the stock is "intact and stronger than ever."

Oppenheimer believes that GoPro's market opportunity is limited and the replacement cycle for its action cameras will be long.

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.

The company is based in San Mateo, Calif.

GPRO ChartGPRO data by YCharts

More from Markets

If Big Tech Companies Disappoint on Earnings, Expect a Stock-Selling Tsunami

If Big Tech Companies Disappoint on Earnings, Expect a Stock-Selling Tsunami

Papa John's Adopts 'Poison Pill' as Fallout from Schnatter's Resignation Spreads

Papa John's Adopts 'Poison Pill' as Fallout from Schnatter's Resignation Spreads

Oil Prices Spike as Trump Fires Angry Tweet Warning Iran of Grave 'Consequences'

Oil Prices Spike as Trump Fires Angry Tweet Warning Iran of Grave 'Consequences'

Fiat Slides After CEO Sergio Marchionne Leaves Automaker Amid Failing Health

Fiat Slides After CEO Sergio Marchionne Leaves Automaker Amid Failing Health

Tesla Seeks Price Reductions and 4 Other Stories to Watch Premarket Monday

Tesla Seeks Price Reductions and 4 Other Stories to Watch Premarket Monday