Nomura Securities Downgrades Imperva (IMPV) to Neutral; Acquisition Already Baked In
- Futures fall on Brexit worries, Trump's dollar comments
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Nomura Securities downgraded Imperva (NYSE: IMPV) from Buy to Neutral with a price target of $50.00, saying an acquisition is priced in.
Analyst Frederick Grieb commented, "After the market close on Thursday, September 22, Bloomberg published an article reporting that Imperva was seen as an acquisition target for Cisco and IBM. On Friday, Imperva’s stock traded up 21% to $52.56 on this news. We are downgrading Imperva to Neutral, from Buy after this move. While we believe that Imperva is a logical target for Cisco and IBM and the company’s management team are willing sellers, we also believe that Imperva’s stock price is now largely baking in a sale of the business, removing potential upside."
Shares of Imperva closed at $52.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FBR Capital Downgrades Liberty Media (LMCA) to Market Perform
- FBR Capital Reiterates Market Perfrm on Wells Fargo (WFC) Following 4Q Miss
- UPDATE: Leerink Partners Upgrades AmerisourceBergen (ABC) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades, Rumors
Related EntitiesNomura, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!