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.

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