GoPro Inc (NASDAQ:GPRO) announced it will host a special event next week, September 19th to unveil its new Karma Drone. Ahead of the Karma Drone release, Oppenheimer analyst Andrew Uerkwitz reiterates a Perform rating on shares of GPRO without listing a price target. GoPro shares are currently trading down as much as 3%.

Uerkwitz notes that the new Karma teasers are “witty and whimsical” and have “piqued our curiosity” in comparison to the older, more traditional style teasers, which lead him to wonder if this newest drone could be a game-changer. Originally, the analyst feared this would be too-similar to the DJI Phantom 3, but notes, “we changed our minds” after seeing the teasers.

From Uerkwitz’s perspective, this year, he has observed the action camera giant is more focused in its execution of strategy and has provided a historically strong product portfolio. The analyst adds, “However, the overall camera market continues to shrink and the company will face a very competitive holiday season (VR headset, wearable, new smartphones, other drones and new consoles) for consumer electronics.”

“We conclude that GoPro may also introduce its new camera line-up for 2016 (including the anticipated flagship Hero5), new software, and potentially a hand-held gimbal accessory. We believe GoPro will continue to focus and execute on a simplified product strategy and better software experience for users, which will allow the company to maintain its dominance on the action camera market. The risks, in our view, are not coming from execution, but from a perpetually declining standalone camera market,” the analyst noted.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, five-star analyst Andrew Uerkwitz is ranked #408 out of 4,143 analysts. Uerkwitz has a 53% success rate and yields 6.8% in his annual returns. When recommending GPRO, Uerkwitz gains 10.6% in average profits on the stock.

TipRanks analytics demonstrate GPRO as a Hold. Based on 11 analysts polled in the last 3 months, 2 rate a Buy on GPRO, 7 maintain a Hold, while 2 issue a Sell. The 12-month price target stands at $11.43, marking an 11% downside from where the shares last closed.