Barclays analyst Manav Patnaik downgraded Clarivate to Underweight from Equal Weight with a price target of $7, down from $8. The analyst sees a “litany of shortcomings” in the company’s three divisions and says Clarivate lacks the urgency to conduct a strategic review. The firm’s sum-of-the-parts analysis shows potential upside, but this hinges on a buyer’s willingness to pay an 80%-plus premium, “which looks doubtful,” the analyst tells investors in a research note.
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