Morgan Stanley upgrades Focus Financial to Equal Weight on buyout offer
The Fly

Morgan Stanley upgrades Focus Financial to Equal Weight on buyout offer

Morgan Stanley analyst Ryan Kenny upgraded Focus Financial to Equal Weight from Underweight with a price target of $53, up from $35. The analyst believes the announced acquisition proposal from Clayton, Dubilier & Rice at $53 per share is accretive to shareholders. The firm moves to the sidelines as Focus Financial’s board evaluates the take-private offer.

Published first on TheFly

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