GoPro’s Financial Results are Promising: J.P Morgan
Shares of GoPro Inc (NASDAQ:GPRO) continue to grow following Friday’s bullish note to investors by J.P. Morgan about the company. The financial services firm thinks that GoPro’s second-quarter results and, a “promising” and higher-than-expected rate of decline in the company’s channel inventory depicts a strong demand. The analyst added that the strong results are due to effective marketing than last year, and a “less cluttered” product lineup. Among the funds in our database, 16 investors were long GoPro Inc (NASDAQ:GPRO) at the end of the first quarter, having amassed $96.2 million worth of stock.
Bank of America Corp’s Stock Could Rise More than 20%
Bank of America Corp (NYSE:BAC)’s stock jumped 2.46% in premarket trading today after an article on Barron’s said the stock could rise by more than 20% after short-term problems like sell-offs, fears of Brexit, delayed rate hike and declining bond yield curve ebb away. The author added that BofA’s current price could prove to be an attractive entry point. Bank of America has a strong $1.2-trillion deposit base and unusually low valuation which give it a competitive advantage over its peers, the article argued. As of the end of the first quarter, 110 funds owns shares of Bank of America Corp (NYSE:BAC). Natixis Global Asset Management’s Harris Associates owns around 144.29 million shares of the company.