UPDATE: JPMorgan Downgrades Ferro Corp. (FOE) to Underweight
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Go back to UPDATE: JPMorgan Downgrades Ferro Corp. (FOE) to Underweight
May 12, 2021 3:12 AM EDT
Deutsche Bank analyst David Begleiter downgraded Ferro Corp. (NYSE: FOE) from Buy to Hold with a price target of $22.00 (from $20.00).
For an analyst ratings summary and ratings history on Ferro Corp. click here. For more ratings news on Ferro Corp. click here.
Shares of Ferro Corp. closed at $21.78 yesterday.
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May 11, 2021 9:29 AM EDT
Pre-Open Stock Movers:
Jumia Technologies (NYSE: JMIA) 23% LOWER; reported Q1 revenue of EUR27.37 million, versus EUR29.25 million reported last year. Adjusted EBITDA loss decreased by 24% year-over-year.
Ferro Corporation (NYSE: FOE) 22.2% HIGHER; entered into a definitive agreement to be acquired by Prince International Corporation, a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately $2.1... More
May 11, 2021 7:47 AM EDT
Ferro Corporation (NYSE: FOE), a leading global supplier of technology-based functional coatings and color solutions, today announced it has entered into a definitive agreement to be acquired by Prince International Corporation, a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of... More
