GoPro Inc. was upgraded to overweight from equal weight at Barclays on Tuesday. Analyst Joseph Wolf also raised his price target on the action camera maker by 30%, to $65 from $50, saying new products, such as drones, 360-degree camera functionality, the compact GoPro Session and advanced Hero4; as well as acquisitions, external hires and brand strength have turned his "skepticism into optimism." Shares of GoPro climbed 3.2% to $53.70 in premarket trade. They have risen 17% over the last three months, outperforming the broader S&P 500, up 0.2%. Barclays estimates that the stock could trade to 25-times its 2017 estimated drone-enhanced earnings power of $2.61.
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