athenahealth to Review Unsolicited Acquisition Proposal from Elliott Management
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athenahealth (ATHN) PT Raised to $160 at Baird Following Acquisition Offer by Elliot Management
May 8, 2018 9:16 AM EDTBaird raised its price target on athenahealth (NASDAQ: ATHN) to $160.00 (from $150.00) while maintaining a Outperform rating following offer by Elliot Management.
Elliot Management proposed to acquire ATHN for $160/share in cash, which equates to an enterprise value of ~$6.9B and 17-18x forward... More
Jefferies Remains Sidelined on Athenahealth (ATHN) Following Unsolicited Offer
May 8, 2018 8:17 AM EDTJefferies reiterated a Hold rating and $130.00 price target on Athenahealth (NASDAQ: ATHN) as the company receives an unsolicited offer from Elliott Management to acquire the company for $160/share in cash. Elliott is asking for three weeks to perform some highly-targeted additional due... More
Athenahealth (ATHN) Could Receive Higher Bid - SunTrust
May 7, 2018 11:32 AM EDTSunTrust Robinson Humphrey maintains Buy on athenahealth (NASDAQ: ATHN) price target of $180.00.
Analyst Sandy Draper comments "As we laid out in our prior note (Link), lack of execution by ATHN could present upside in the form of an activist push. We think... More
Athenahealth (ATHN) Offer May Improve after Due Diligence - Piper
May 7, 2018 10:44 AM EDTPiper Jaffray maintains Overweight on athenahealth (NASDAQ: ATHN) price target of $155.00.
Analyst Sean Wieland remains positive on the company following Monday's offer from Elliot Management at $160 per share or $6.9 billion EV. The analyst sees a possible increase to the price... More
Athenahealth (ATHN) Board Likely to Reject Offer from Elliott - Evercore ISI
May 7, 2018 10:38 AM EDTEvercore ISI analyst Ross Muken expects Athenahealth (NASDAQ: ATHN) Board to reject the $160/share offer from Elliott as undervaluing the company but said this is par for the course in these situations.
Muken notes this is not a new strategy... More
