Wells Fargo Can't Rule Out Competing Bids for Ceradyne (CRDN)
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Price: $35.00 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 13 | New: 1
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 13 | New: 1
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Wells Fargo commented on Ceradyne (NASDAQ: CRDN) after this morning's 3M takeover deal. The firm said that at an EV/EBITDA multiple of 8x 20113 estimates the offer looks generous as fundamentals are challenging in most of Ceradyne's major business segments today, although they can't rule out the possibility of competing bids.
The firm raised their valuation range from $20-$21 to $35-$38 and maintained their Market Perform rating.
For an analyst ratings summary and ratings history on Ceradyne click here. For more ratings news on Ceradyne click here.
Shares of Ceradyne closed at $24.43 yesterday.
The firm raised their valuation range from $20-$21 to $35-$38 and maintained their Market Perform rating.
For an analyst ratings summary and ratings history on Ceradyne click here. For more ratings news on Ceradyne click here.
Shares of Ceradyne closed at $24.43 yesterday.
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