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Piper Jaffray Heads to Sidelines on GoPro Inc; Slashes Price Target

In a research report issued today, Piper Jaffray analyst Erinn Murphy downgraded shares of GoPro Inc (NASDAQ:GPRO) to Neutral rating and reduced the price target to $25 (from $54), which reflects a potential downside of 11% from last closing price. The decreased rating and price target come after 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...