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Piper Jaffray Downgrades Two Stock Giants: GoPro Inc (GPRO) and Under Armour Inc (UA)


On the heels of 30th semi-annual Teen Survey, Piper Jaffray analyst Erinn Murphy weighed in today on the action camera giant GoPro Inc (NASDAQ:GPRO) and sporting apparel giant Under Armour Inc (NYSE:UA), with downgrades.

GoPro Inc

In a research report released Tuesday, Murphy downgraded shares of GoPro from an Outperform to a Neutral rating and reduced the price target to $25 (from $54), following negative Teen Survey and further exploration on the brand positioning in the channel.

Murphy noted, “While we are encouraged with the continued adoption of the GoPro brand among teens, our wish list analysis highlighted more tepid holiday demand for the brand. Our survey results suggest a decline among teens that indicated a GoPro as one of their top two holiday gift wishes. More specifically, 1.0% of teens indicated a GoPro as one of their top-two gift wish, which is down from 1.6% in the Spring and 1.3% last Fall. We believe we are nearing a tipping point with respect to demand. It is important to remember the survey responses are completely unaided. We ask teens to list their top two gift wishes for the...