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- Morgan Stanley upgrades GoPro (NASDAQ:GPRO) to an Equal-weight rating after having the consumer products seller lined up at Underweight.
- Analyst Erik Wooding: "After further digesting GPRO's 3Q21 results in the context of solid T12M results, it's clear that execution has improved and subscriber churn has outperformed, paving a clearer path to positive estimate revisions."
- GoPro is noted to have added to the $50 annual subscription offering in the last 12 months has created a stickier platform than we had thought. The firm holds off on moving to an Overweight rating on GPRO on its view that the path to consistent long-term revenue and EBITDA growth is still opaque.
- Shares of GRPO are up 4.44% premarket to $10.10 to swing back over the 100-day moving average.