SonoSite (SONO) Shares Jump on Takeover Chatter; Analyst Sees Co. Worth $55/Share in Buyout

Shares of SonoSite (Nasdaq: SONO) spiked sharply higher Thursday morning following reports from Bloomberg the company may be in sale talks with Korea's Samsung. The stock jumped as much as 18 percent, settling slightly above the $36 level.

SonoSite shares are now taking another leg higher following a bullish afternoon research note from Stifel Nicolaus' Charles Chon. The analyst believes the company could be worth $55 per share in a takeout scenario, about 41 percent higher than where the stock is currently trading.

Chon maintains a Buy rating and $43 price target on shares of SonoSite.

The stock is now up about 27 percent from Wednesday's close.

To track all the market-moving analyst action on shares of SonoSite, visit our Analyst Ratings page.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Stifel Upgrades Barry Callebaut AG (BARN:SW) (BYCBF) to Buy
• Azul (AZUL) Said in Talks With Gol (GOL) Shareholder for Stock-Based Deal - Bloomberg
• FTC Preparing to Sue to Block Tapestry's (TPR) Takeover of Capri (CPRI) - NYT