Canaccord Genuity Moves Rating on Martek Biosciences (MATK) to Tender; DSM Sees the Value Shareholders Don't

Canaccord Genuity moves rating on Martek Biosciences (Nasdaq: MATK) to Tender and raises PT to $31.50.

Canaccord analyst says, "DSM offers $31.50/share in cash for MATK. We do not expect a competing bid as IP expiration is not the challenge for DSM that it is for any other potential suitor. Anticipate deal will close as announced by early Q2/2011...We view DSM as the ideal acquirer as the risk of buying MATK is patent expiration, yet DSM is already exposed to this risk and has IP of its own that could be synergistic."

To see all upgrades/downgrades on shares of MATK, visit our Analyst Ratings page.

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