Raymond James analyst C. Gregory Peters downgraded Argo Group to Underperform from Market Perform without a price target. The downgrade reflects the limited upside remaining for the stock following the run-up related to management’s announcement that the company entered into a definitive merger agreement with Brookfield Reinsurance for $30 per share in cash, the analyst tells investors in a research note. The firm believes it is unlikely for the company to receive a competing offer considering the multiyear strategic review process.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ARGO:
