Morgan Stanley Sees Good Start To Year For GoPro

In a report published Friday, Morgan Stanley analyst James E. Faucette reiterated an Equal-Weight rating and $57.00 price target on GoPro Inc (NASDAQ: GPRO).

In the report, Morgan Stanley noted, "Improved editing and software automation still key to long-term potential. GoPro posted impressive December quarter results while management provided guidance and commentary that left us confident in the company's growth trajectory through 2015.For our part, the thesis remains unchanged: we believe GoPro must lead in the automation of video editing and sharing through continued development of its software platform. If GoPro drives software innovation that solves pain points in video sharing, we think the company will be able to maintain premium pricing and significantly expand its addressable market. If a third party were to lead in such developments, we think the POV camcorder will commoditize rapidly."

GoPro closed on Thursday at $54.37.