Janney Montgomery Scott analyst Michael Gaugler downgraded Avangrid to Sell from Neutral with a $35 fair value estimate after Iberdrola offered to acquire the company for $34.25 per share. If not consummated, Avangrid shares could go back to price levels before the offer was made, the analyst tells investors in a research note. And if the offer is raised, it may not match or exceed where the shares closed yesterday, says Janney.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AGR: