Baird Downgrades Model N, Inc. (MODN) to Neutral Post Acquisition

Baird analyst Jon Vruwink downgraded Model N, Inc. (NYSE: MODN) from Outperform to Neutral with a price target of $30.00 (from $32.00).

The analyst comments "Vista to acquire Model N in all-cash transaction valued at $1.25B. The transaction represents a premium of 23% over the 30-day volume weighted average as of January 10, the day prior to when the board authorized advisors to contact potential acquirors. We are downgrading the stock to Neutral as we believe the deal is likely completed, with closing targeted by mid-2024

For an analyst ratings summary and ratings history on Model N, Inc. click here. For more ratings news on Model N, Inc. click here.

Shares of Model N, Inc. closed at $27.09 yesterday.

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