Qualtrics downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Kirk Materne downgraded Qualtrics (XM) to In Line from Outperform with a price target of $19, down from $20, after Silver Lake and Canada Pension Plan Investment Board announced an offer to acquire all of the outstanding shares of class A common stock and class B common stock not currently owned by Silver Lake, including all shares of company common stock owned by SAP (SAP), for a purchase price of $18.15 per share in cash.