Truist raised the firm’s price target on Barnes Group (B) to $47.50 from $38 and keeps a Hold rating on the shares. Following the announcement of a formalized agreement where Apollo Global Management (APO) will acquire Barnes for $47.50/share in an all-cash deal, the firm is updating its price target to reflect the new takeout valuation.
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- Barnes Group downgraded to Neutral from Buy at DA Davidson
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- Barnes Group to be acquired by Apollo Global funds for $3.6B in cash