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GoPro Inc Set To Bounce Back Next Year, Says Analyst

GoPro Inc (NASDAQ:GPRO) shares have fallen 54% year-to-date. Earlier this month, Barron's issued a damning report, claiming that GoPro was a one-trick pony like BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), Flip, and Palm. But Stern Agee CRT analyst Rob Cihra believes that the stock will recover in 2016. Cihra has initiated coverage of GoPro with a Buy rating and $45 price objective, which reflects a 50% upside from current levels.

Can smartphones replace GoPro cameras?

Cihra rubbished the reports that smartphones and low-cost rivals will eventually eat into GoPro's market and brand. The newest phones from Apple and Samsung Electronics Co., Ltd. (LON:BC94) have...