- Wedbush has launched coverage on GoPro (GPRO +6.7%) with an Outperform rating and $81 target. The firm thinks the action camera leader deserves a high multiple on account of a fast-growing addressable market and "strong brand that permits premium pricing."
- With the help of a tech rally, shares are rebounding after falling 9.7% yesterday, and 34% from an Oct. 7 high of $98.47.
- Oppenheimer launched coverage with an Underperform last week, arguing "action cameras will remain a niche product with a limited total addressable market size" and that GoPro's media efforts won't allow it to create an ecosystem for its hardware.