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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Read More on FOCS:
- Focus Financial upgraded to Equal Weight from Underweight at Morgan Stanley
- Focus Financial downgraded to Market Perform from Outperform at BMO Capital
- 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