GoPro shares could rise significantly when the company posts its financial results this week, according to J.P. Morgan.
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The firm said the company’s stock price is now low enough for the shares to rally on a decent earnings report. GoPro is slated to report its second-quarter earnings results Thursday after the market close.
“We expect GPRO to post in-line 2Q18 results,” analyst Paul Coster said in a note to clients entitled “2Q18 Preview: Low Expectations and Elevated Short Interest Sets Up for a Potential Move on Solid Print” Tuesday. “Expectations are muted, short-interest remains quite elevated, so the stock might be set up for a short squeeze on solid results.”