Nielsen Holdings (NLSN) PT Lowered to $23 at Credit Suisse Amid Report of Stalled Auction
Credit Suisse analyst Kevin McVeigh lowered the price target on Nielsen Holdings (NYSE: NLSN) to $23.00 (from $27.00) while maintaining a Neutral rating following reports from the New York Post that Blackstone is backing out of the auction and Apollo is losing interest.
McVeigh notes they have previously written that they shares trading down to $19 in a no deal scenario, but more likely low-$20s.
The analyst said a take private deal is not a foregone conclusion and they highlight recent customer losses and public negotiations with CBS.
The firm's 'Grey Sky' scenario, which is predicated on no strategic actions, is $19/Share.