Needham & Company Downgrades ExamWorks Group (EXAM) to Hold: Other Bidder Unlikely

Needham & Company downgraded ExamWorks Group (NYSE: EXAM) from Buy to Hold saying other bidders appear unlikely.

Analyst Mike Matson commented, "EXAM filed a preliminary proxy statement for its acquisition by Leonard Green & Partners on 5/20/16. The proxy statement provides an update on the go-shop period (which ends on 6/1/16) and notes that 44 of 46 potential buyers have indicated that they are not interested in EXAM and the remaining two have not responded. Given this, we now think that a higher bid for the company is unlikely and we are downgrading EXAM to Hold."

For an analyst ratings summary and ratings history on ExamWorks Group click here. For more ratings news on ExamWorks Group click here.

Shares of ExamWorks Group closed at $34.79 yesterday.

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy
• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'