Monday Morning Pre-Market Insights: GoPro Inc (GPRO), Tesla Motors Inc (TSLA), Global X Funds (GREK), Humana Inc (HUM)
GoPro Inc (NASDAQ:GPRO) shares are up 0.63% in pre-market trading to $52.07 after the action camera company received some publicity over the weekend. GoPro teamed up with the World Wildlife Fund to raise awareness about saving the endangered species and natural reserve in the Great Barrier Reef. The team strapped a GoPro camera to a turtle in the reef and got about 15 minutes of footage before the turtle shook off the camera. According to the 17 analysts polled by TipRanks in the last three months, 10 are bullish on GoPro while 6 are neutral. The average 12-month price target for the stock is $71.50, marking a 38% potential upside from where the stock is currently trading.
Tesla Motors Inc (NASDAQ:TSLA) shares increased 0.31% to $280.89 in pre-market trading. Right before the markets closed for the long holiday weekend, the electric car company announced that 11,500 Model S vehicles had been delivered in the second quarter. This marks a 52% year-over-year increase and a new record of most cars delivered for the company. Investors are hoping that this figure will provide momentum as Tesla prepares to roll out the Model X in September, which already has thousands of reservations. According to the 13 analysts polled by TipRanks in the last three months, 9 are bullish on the stock, 1 is neutral, and 3 are bearish. The 12-month average price target for the stock is $292.75, marking nearly a 5% potential upside from where the stock is currently trading.
Global X Funds (NYSEARCA:GREK) shares fell more than -9.6% in pre-market trading to $9.80 after Greece defaulted on its loan and voted against a bailout referendum from its creditors. The company runs Global X FTSE Greece 20 ETF, which is an index of the top 20 companies on the Athens stock exchange. Before the referendum, Greek Finance Minister Yanis Varoufakis was encouraging Greeks to vote against the referendum so the country would be able to broker a more favorable deal. As of this morning, Varoufakis resigned from his position.
Humana Inc (NYSE:HUM) shares increased 5.29% to $197.41 in pre-market trading after Aetna announced it would be acquiring the health insurance company for $37 billion, or approximately $230 per share of Humana. Shares of the company last closed at $193.14. Humana stockholders will receive $126 in cash and about 0.84 of Aetna common shares for every Humana share. The deal is expected to maintain $1.25 billion in annual synergies by 2018 by combining Aetna’s diversified portfolio and commercial capabilities with Humana’s growing Medicare Advantage business. According to 11 analysts polled by TipRanks in the last three months, 6 are bullish on Humana while 5 are neutral.