GoPro Inc (NASDAQ: GPRO) is having an incredibly strong start to the trading session in the pre-market this morning, and for good reason. The company was the center of an upgrade by Goldman Sachs, leading to excitement among investors who are pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:33), GPRO is trading at $10.10 per share after a gain of $0.36 per share or 3.70% thus far today.
GPRO Gains On Goldman Sachs Upgrade
As mentioned above, GoPro is having an overwhelmingly strong start to the trading session this morning after the stock was the center of an upgrade by Goldman Sachs. It was announced early this morning that Goldman Sachs has upgraded the stock from a Sell rating to a Neutral rating, giving the stock a price target of $10.00. The price target on the stock was previously $6.75.
The analyst heading the charge on GPRO was Doug Clark. In particular, his upgrade on the stock had to do with the new product launch coming soon. He also said that the company is in a unique position to improve its capital structure and liquidity position. As a result, he no longer sees a downside on the stock.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on GPRO. In particular, we’re interested in following the company to see if they do indeed improve their capital structure and liquidity position ahead of or after the new product launch. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!