GoPro Downgraded Despite Bullish Views on Growth Opportunity

GoPro (GPRO) is downgraded, GrubHub (GRUB) is initiated and Blackstone (BX) gets its price target lowered in Wednesday's Analysts' Actions. GoPro is now rated a NEUTRAL from OVERWEIGHT at Piper Jaffray. The price target remains at $90. The firm says it's still bullish about GoPro's growth opportunity but would wait for a more attractive entry point. JMP Securities is now covering GrubHub with a MARKET OUTPERFORM and $48 price target. The firm said the strong start is based on the ease of use of the platform and highly positive feedback from participating restaurants. Jefferies lowered its price target for Blackstone to $40 from $42 a share but reiterated its BUY rating. Jefferies didn't like the asset manager's equity markets businesses finishing in the red last quarter.