Analyst Update: GoPro Inc, Fitbit Inc, and Kinder Morgan

Analysts adjusted their ratings on GoPro Inc (GPRO), Fitbit Inc (FIT), and Kinder Morgan Inc (KMI)

Dec 7, 2015 at 12:49 PM
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Analysts are weighing in today on camera maker GoPro Inc (NASDAQ:GPRO), wearable tech concern Fitbit Inc (NYSE:FIT), and energy interest Kinder Morgan Inc (NYSE:KMI). Here's a quick roundup of today's brokerage notes on GPRO, FIT, and KMI.

  • GPRO is headed lower again, after a disappointing sales outlook from supplier Ambarella Inc (NASDAQ:AMBA), on top of negative analyst attention, sent the shares to an all-time low on Friday. Today, GoPro Inc is down 0.6% at $17.89 -- and just off a fresh record low of $17.24 -- after being handed a price-target cut to $18 from $24 at Cowen and Company. The company also announced the launch of a GoPro Channel on Amazon Fire TV and Fire TV Stick, which will stream on-demand videos from GoPro camera users to, Inc. (NADAQ:AMZN) customers. GPRO has been moving lower since August, and has shed more than 71% of its value so far this year. Traders have been betting heavily against the stock. Nearly half of GPRO's available float is currently sold short, accounting for almost five days of trading, at the stock's typical volumes. And on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), GoPro's 10-day put/call volume ratio of 0.64 ranks higher than nearly three-fourths of readings from the past 52 weeks.

  • FIT is trading 1.6% higher today, last seen at $33.92, after receiving an endorsement in Barron's -- where writer Alexander Eule called Fitbit "a rare bit of good news" among technology offerings this year. Furthermore, he said "Fitbit trackers are this year's hot holiday gift." The stock is up more than 67% from its June IPO price. And while the shares hit a low at $24.46 just two weeks ago, they have been trending higher ever since on booming holiday sales and positive analyst attention -- 13 out of 18 brokerages currently give FIT a "buy" rating or better, without a "sell" on the books. Still, more than 38% of the stock's total float is sold short, after an increase of nearly 19% during the past two reporting periods.

  • A widespread energy slump and a round of negative analyst attention has KMI down 7.3%, trading at $15.59, and just off a new all-time low of $15.13. Jefferies, Barclays, Credit Suisse, and Suntrust Robinson all revised their price targets on the stock, with the former more than halving its target to $15, and recommending a dividend cut through 2017. The shares have dropped more than 65% since hitting an all-time high north of $44 in April, and have been moving sharply lower over the past week, since the company announced its plan to jointly buy a 53% interest in Myria Holdings Inc.'s Natural Gas Pipeline Company of America LLC in a $242 million deal. KMI reported Friday that it will review its dividend policy and financing plans in the coming days. Out of 14 brokerages following the stock, 11 maintain a "buy" rating or better, even as KMI has underperformed the S&P 500 Index (SPX) by nearly 50 percentage points over the last two months.
For other stocks in analysts' crosshairs, read Analyst Upgrades: Alibaba Group Holding Ltd, Alcoa Inc, and Johnson & Johnson and Analyst Downgrades: Chipotle Mexican Grill, Inc., Agios Pharmaceuticals Inc, and bluebird bio Inc.


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