Nomura Securities Downgrades Imperva (IMPV) to Neutral; Acquisition Already Baked In
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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.
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