Oppenheimer analyst Owen Lau downgraded Focus Financial Partners to Perform from Outperform without a price target. The analyst cites the pending $53 per share buyout offer from private equity firm Clayton, Dubilier & Rice for the downgrade. The firm believes Focus is trading on technical factors instead of fundamentals pending clarity on the deal. If the company doesn’t accept the offer, the stock is at risk to retrace to or below $46, the analyst tells investors in a research note.
Published first on TheFly
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