Benchmark Downgrades Savvis (SVVS) to Hold on Pending Sale
Tweet
Share
E-mail
Get Alerts SVVS Hot Sheet
Price: $39.50 --0%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Benchmark downgraded Savvis (NASDAQ: SVVS) from Buy to Hold. PT lowered to $40.
Benchmark analyst says, "CenturyLink (NYSE: CTL) agreed to acquire Savvis two months ago. No competing bidder has emerged. It appears unlikely deal terms will change...We downgrade Savvis due to the pending sale of the company to CenturyLink. We decrease our price target from $45 to $40 to reflect the likely
closing of the CenturyLink deal as currently proposed."
For more ratings news on Savvis click here and for the rating history of Savvis click here.
Shares of Savvis closed at $39.59 yesterday.
Benchmark analyst says, "CenturyLink (NYSE: CTL) agreed to acquire Savvis two months ago. No competing bidder has emerged. It appears unlikely deal terms will change...We downgrade Savvis due to the pending sale of the company to CenturyLink. We decrease our price target from $45 to $40 to reflect the likely
closing of the CenturyLink deal as currently proposed."
For more ratings news on Savvis click here and for the rating history of Savvis click here.
Shares of Savvis closed at $39.59 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- RBC Capital Downgrades Accelerant Holdings (ARX) to Sector Perform
- DA Davidson Downgrades Blaize Inc. (BZAI) to Neutral
- Barclays Downgrades Murphy Oil Corp. (MUR) to Underweight
Create E-mail Alert Related Categories
DowngradesSign 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!
