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JPMorgan's GoPro Downgrade Doesn't Mean You Shouldn't Own the Stock

TheStreet

In Thursday's Analysts' Actions, GoPro gets a downgrade, UBS likes DR Horton and Jefferies initiates Foot Looker with a buy rating. GoPro (GPRO) was downgraded at JPMorgan (JPM) to a 'neutral' rating. The analysts there say it was valuation call since the stock is now up about 137% from its IPO. They have no change in their estimates or price target which remains at $51 a share. The firm still believes fundamentals remain very good for GoPro. UBS says DR Horton (DHI) is the home builder stock to own heading into the next stage of the housing recovery. The firm upgraded the stock to 'Buy' from 'Neutral' and also raised the price target to $26 a share from $20. Foot Locker (FL) was initiated with a 'Buy' rating at Jefferies. The firm set a $66 dollar price target for the stock. Analysts there think "at this later stage of the athletic footwear cycle, FootLocker is well positioned".