GoPro shares could rise significantly when the company posts its financial results this week, according to J.P. Morgan.
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.”