Loop Capital analyst Scott Graham downgraded Altra Industrial Motion (AIMC) to Hold from Buy with an unchanged price target of $62 after the company entered into a definitive agreement to be acquired by Regal Rexnord (RRX) for $62 per share. The analyst believes Altra is worth more than the Regal Rexnord offer. But with no other suitors emerging, the firm downgrades the shares.
Published first on TheFly
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