Jefferies & Co Downgrades Jacuzzi Brands (JJZ) to Hold
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- Jefferies & Co Downgrades Jacuzzi Brands (JJZ) to Hold
Jefferies & Co downgrades Jacuzzi Brands (NYSE: JJZ) from Buy to Hold. Price target $12.50.
Jefferies analyst, Robert J. Schenosky, says, "We are downgrading shares of JJZ to Hold as the shares are slightly above our target price reflecting the merger announcement with Apollo. Our conservative take-out value was $12 per share. The initial value of the agreement is $12.50 per share. We believe there may be some upside to the price, but not necessarily meaningful enough to maintain our Buy rating."
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