Pacific Crest Downgrades Imperva (IMPV) to Sector Weight
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Pacific Crest downgraded Imperva (NYSE: IMPV) from Overweight to Sector Weight and removed its price target. Analyst Rob Owens said shares could be pressure if a sale is not "consummated in imminent fashion."
"Since Imperva announced the details surrounding its weaker-than-expected Q2 results on Aug. 4, shares have appreciated 3.6%. We believe this move is attributable to management's indication that the board had commenced a review of strategic alternatives and has created a less compelling investor return profile at current levels. Further, were the company not to find a suitor in the near term, we see no chance of fundamentals showing marked improvement anytime soon," said Owens.
Shares of Imperva closed at $46.64 yesterday.
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