NEW YORK (TheStreet) -- Shares of GoPro (GPRO) were getting a boost, up 2.69% to $59.97 in early market trading Wednesday, after analysts at JPMorgan Chase raised their price target by $5 on shares of the action camera maker earlier this morning.
The company had its price target increased to $75 from $70. JPMorgan maintained its "overweight" rating on shares.
Analysts at the firm believe GoPro's pace of innovation "continues to gather momentum."
JPMorgan thinks the company's capture-device growth will be driven by its Alpha version of the cloud-hosted app, a Hero device that integrates touch LCD, as well as and the introduction of a drone.
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.