Truist last night downgraded Avid Technology to Hold from Buy with a price target of $27.05, down from $45. The analyst cites Symphony Technology Group’s recent announcement that an affiliate has entered into a definitive agreement to acquire Avid in an all-cash transition that values the company at $1.4B in enterprise value, or $27.05 per share, for the downgrade. The firm assumes the deal “represents the best and final offer” for Avid.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AVID:
- Avid Technology downgraded to Hold from Buy at Truist
- Avid Technology downgraded to Neutral from Buy at B. Riley
- Avid Technology downgraded to Market Perform from Outperform at Northland
- Avid Technology price target raised to $27 from $25 at Jefferies
- Avid Technology reports Q2 EPS 22c, consensus 21c
