Alliance Global Partners raised the firm’s price target on Satixfy Communications (SATX) to $3 from $2.10 and keeps a Neutral rating on the shares after the company and MDA Space (MDALF) agreed to amend the take out price to $3 per share after a third party made a bid. Satixfy has committed to not consider any other acquisition proposals, notes the analyst, who points out that shares are now trading at close to the higher take out price.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SATX:
- Satixfy Communications, MDA Space announce amended merger agreement
- SatixFy Communications Postpones Shareholder Meeting Amid Revised Merger Proposal
- Satixfy downgraded to Neutral from Buy at Alliance Global Partners
- SatixFy Communications Announces Special Meeting for Merger Vote
- SatixFy Reports Robust 2024 Growth and Announces Acquisition by MDA Space