Wedbush Sees Shares of Blackboard (BBBB) Going to $55-$60 on Their Own, Expects a High Bid
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Price: $26.93 --0%
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush is reiterating its Outperform rating on shares of Blackboard (NASDAQ: BBBB) and is raising its price target from $50 to $60 following its announcement that it recently received more than one unsolicited bid to purchase the company, and that it hired an investment bank to seek strategic alternatives to enhance shareholder value.
The firm believes that shares could have appreciated to at least $50-$60 on their own within a few quarters following solid execution as the selling environment continues to modestly improve.
Some of the likely strategic buyers that Wedbush feels may have made the deal are News Corp. (NYSE: NWS), Pearson (NYSE: PSO), The McGraw-Hill Companies (NYSE: MHP), Apollo Group Inc. (Nasdaq: POL), Washington Post Company (NYSE: WPO), and has also speculated Apple (Nasdaq: AAPL) or Microsoft (Nasdaq: MSFT).
For more ratings news on Blackboard click here and for the rating history of Blackboard click here.
Shares of Blackboard closed at $47.91 yesterday.
The firm believes that shares could have appreciated to at least $50-$60 on their own within a few quarters following solid execution as the selling environment continues to modestly improve.
Some of the likely strategic buyers that Wedbush feels may have made the deal are News Corp. (NYSE: NWS), Pearson (NYSE: PSO), The McGraw-Hill Companies (NYSE: MHP), Apollo Group Inc. (Nasdaq: POL), Washington Post Company (NYSE: WPO), and has also speculated Apple (Nasdaq: AAPL) or Microsoft (Nasdaq: MSFT).
For more ratings news on Blackboard click here and for the rating history of Blackboard click here.
Shares of Blackboard closed at $47.91 yesterday.
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