Lake Street analyst Frank Takkinen downgraded Apollo Endosurgery (APEN) to Hold from Buy with a price target of $10, down from $14, after Boston Scientific (BSX) announced a deal to acquire Apollo for $10 per share in cash, or about $615M in enterprise value. While he thinks the argument for a higher takeout value is "reasonable" and does not think the potential for a higher bid "should be counted out," he also thinks the purchase price is "fair and reasonable," Takkinen tells investors.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on APEN:
- Piper says Apollo Endosurgery can help Boston Scientific expand ELS franchise
- Craig-Hallum sees potential for competing Apollo Endosurgery bids
- Boston Scientific to Acquire APEN For $10 Per Share
- Apollo Endosurgery to be acquired by Boston Scientific for $10.00 per share
- Boston Scientific Announces Agreement to Acquire Apollo Endosurgery, Inc.
