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GoPro Popping on Surprise 'Healthy' Holiday Sales

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On Tuesday, shares of wearable action camera maker GoPro Inc. GPRO are popping, up over 8% in morning trading after the company looks to have sold more cameras than expected during the recent holiday season, according to Pacific Crest analysts.

In a note, analysts Brad Erickson and Elliot Arnson said that "Checks indicate the fourth quarter turned out better than feared, which could give GoPro a near-term reprieve given high short interest and negative sentiment."

As a result of GoPro's good holiday season, Pacific Crest, raised fourth-quarter estimates to 1.9 million units to 2.1 million units. The analysts also added that the company's premier product, the $799 Karma drone, should begin to ship again in the second quarter of fiscal 2017; GoPro had to recall the drone last November after battery issues led some to lose power mid-flight.

Pacific Crest maintains its Sector Weight rating on GPRO stock, and sees fair value between $9 and $10 per share.

GoPro is set to report fourth-quarter earnings after the bell on Thursday, February 2.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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