Raymond James analyst Patrick O’Shaughnessy downgraded Focus Financial to Market Perform from Outperform without a price target following the Q4 results. The company’s Q4 EPS was better than anticipated and its Q1 outlook was ahead of consensus, but share price upside will be limited from here due to the outstanding offer from private equity firm Clayton, Dubilier & Rice to acquire Focus for $53 per share in cash, the analyst tells investors in a research note. The firm does not expect another buyer to emerge given that Focus already shopped the company around to other potential buyers and has since entered into an exclusivity arrangement with CD&R.
Published first on TheFly
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