S&P Equity Research Downgrades CSK Auto (CAO) to Hold
CAO Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
S&P Equity Research downgrades CSK Auto (NYSE: CAO) from Buy to Hold.
S&P analyst, M. Souers, says, "CAO signs a definitive agreement to be acquired by O'Reilly Automotive (Nasdaq: ORLY), pending required approvals, for $11.00 per share in ORLY common stock and $1.00 per share in cash, for a total transaction value of about $1 billion, including debt. We had presumed that ORLY would increase its bid for CAO after its first bid of $8.00 per share was rejected, and we think the agreed-upon deal makes sense for both parties. We are increasing our target price by $1 to $12 and we expect the transaction to receive both regulatory and shareholder approvals."
CSK Auto Corporation (CSK) is a specialty retailer of automotive parts and accessories in the United States.[SM]
S&P analyst, M. Souers, says, "CAO signs a definitive agreement to be acquired by O'Reilly Automotive (Nasdaq: ORLY), pending required approvals, for $11.00 per share in ORLY common stock and $1.00 per share in cash, for a total transaction value of about $1 billion, including debt. We had presumed that ORLY would increase its bid for CAO after its first bid of $8.00 per share was rejected, and we think the agreed-upon deal makes sense for both parties. We are increasing our target price by $1 to $12 and we expect the transaction to receive both regulatory and shareholder approvals."
CSK Auto Corporation (CSK) is a specialty retailer of automotive parts and accessories in the United States.[SM]
You May Also Be Interested In
- UPDATE: UBS Downgrades Wisconsin Energy (WEC) to Neutral; Taking Some Off The Table
- Needham & Company Reiterates a 'Buy' on UQM Technologies (UQM); Increasing EV Adoption
- Goldman Sachs Boosts Numbers on PVH Corp (PVH) After Q1 Beat
Create E-mail Alert Related Categories
DowngradesRelated Entities
S&P Equity ResearchSign 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!
