BMO Capital analyst James Fotheringham downgraded Focus Financial to Market Perform from Outperform with a price target of $53, down from $55. The analyst cites the company’s announced acquisition proposal from Clayton, Dubilier & Rice at $53 per share, also stating that since this is an exclusivity agreement, a competing bid is not expected.
Published first on TheFly
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Read More on FOCS:
- Focus Financial announces acquisition proposal from Clayton, Dubilier & Rice
- Newman Schimel enters agreement to join Focus partner firm Kovitz
- Focus Financial price target raised to $50 from $45 at Truist
- Focus Financial initiated with an Outperform at William Blair
- FPCM to join Focus partner firm GYL Financial Synergies
