Baird analyst Peter Arment downgraded Mercury Systems to Neutral from Outperform with a price target of $40, down from $48. The firm views the strategic alternatives review as unlikely to result in a significant premium as buying interest likely reflects the new financing environment, yielding lower offers than previously expected. While a deal could still occur, Baird does not expect a significant premium to current prices, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MRCY:
- Mercury Introduces ROCK 4 Mission Computer That Sets New Performance Standard for Small Form-factor Avionics
- Mercury Systems hosts U.S. Senator Shaheen at Hudson facility
- Mercury Systems Hosts U.S. Senator Jeanne Shaheen at its Hudson Facility
- Mercury Systems price target lowered to $58 from $69 at Truist
- Mercury Systems price target lowered to $45 from $54 at RBC Capital