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GoPro (GPRO) Stock Continues to Drop Following Price Target Cut

NEW YORK (TheStreet) -- Shares of GoPro (GPRO - Get Report) are down by 4.98% to $27.88 in mid-morning trading on Thursday, as the stock continues to suffer following a negative note from analysts' at Morgan Stanley yesterday.

Analysts at the firm slashed their price target on the stock to $35 from $62 while reiterating their "equal weight" rating.

"GoPro devices will remain a niche alternative to smartphone video capture and growth will continue to slow and fall in-line with the broader digital camera market," analysts at the firm said in a note.

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The stock fell as much as 8% in yesterday's trading session.

Separately, TheStreet Ratings team rates GOPRO INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their...