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GoPro a 'buy' ahead of IPO, analyst says

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GoPro's strategic value to Youtube: Pro

GoPro, the portable action camera company, Wednesday ahead of its first day of trading on the Nasdaq, and one analyst has already rated the stock a "buy."

"I think the way to think about the media business is they can certainly turn on ads at any point on some of their YouTube videos. But I also think enormous amount of strategic value to YouTube," Dougherty & Co. analyst Charlie Anderson said on CNBC's "Fast Money."


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GoPro 'already media company': Pro

In a note to clients Anderson added, "We believe GoPro has established one of the most valuable brands in consumer technology. We also believe GoPro has set itself up for outperformance in the near-term and has optionality with the media business."

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Anderson has a $28 price target on the company.

By CNBC's Kristin Cwalinski