Truist analyst Miller Jump downgraded Informatica (INFA) to Hold from Buy with a price target of $25, up from $24, after the announcement this morning that Salesforce (CRM) would be acquiring the company. The firm expects that the deal will close and it is “not holding out for another bid over the top” given the strategic fit for Informatica in bolstering Salesforce’s data management business, despite The Wall Street Journal reporting on the competitive bidding process with other financial and strategic buyers, the analyst tells investors.
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