Citi analyst Steven Enders downgraded Coupa Software to Neutral from Buy with a price target of $81, up from $66 after the company announced a takeout offer at $81 per share by Thoma Bravo. The anlayst views the offer following a "robust" strategic review as the best near-term outcome for shareholders, particularly in an increasingly competitive environment with a slowing macro.
Published first on TheFly
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