BMO Capital Downgrades Focus Financial Partners (FOCS) to Market Perform
- Wall St rises as bank fears fade, focus on inflation data
- Google accuses Microsoft of anti-competitive Cloud practices
- Alibaba's (BABA) logistics unit Cainiao pursuing IPO at over $20B valuation - Bloomberg
- Tesla urges Model 3 buyers to 'take delivery' before expected tax credit reduction
- Roku (ROKU) stock gains on plans to cut 200 jobs, 6% of workforce
Get Alerts FOCS Hot Sheet
5 Buy, 7 Hold, 0 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 21 | Down: 10 | New: 24
Join SI Premium – FREE
BMO Capital analyst James Fotheringham downgraded Focus Financial Partners (NASDAQ: FOCS) from Outperform to Market Perform with a price target of $53.00 (from $55.00).
The analyst comments "This morning Focus announced an exclusivity agreement with PE firm Clayton, Dubilier & Rice (CD&R) regarding a potential acquisition of FOCS at $53/share (~15% premium to last night's close). We understand that FOCS has already approached/met with other potential bidders; nevertheless the CD&R bid has proceeded (with a “best and final” price of $53/share). Given this is an exclusivity agreement, we do not expect a competing bid, and believe a definitive agreement is the likely outcome. We downgrade shares to Market Perform and reduce our target to $53 (from $55)."
For an analyst ratings summary and ratings history on Focus Financial Partners click here. For more ratings news on Focus Financial Partners click here.
Shares of Focus Financial Partners closed at $50.01 yesterday.
You May Also Be Interested In
- Morgan Stanley cuts Charles Schwab (SCHW) on limited visibility, EPS risk
- Central Asia Metals Plc. (CAML:LN) PT Lowered to GBP2.65 at Canaccord Genuity
- Ero Copper Corp. (ERO:CN) (ERRPF) PT Raised to Cdn$25 at Raymond James
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesBMO Capital, Definitive Agreement
Sign 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!