Keefe Bruyette downgraded Triton International (TXTN) to Market Perform from Outperform with a $74 price target after the company entered into a definitive agreement to be acquired by Brookfield Infrastructure Partners (BIP) for $85 per share in a cash-and-stock transaction. The takeout price represents a solid outcome for Triton and "shines a spotlight on the sector’s attractive valuation," the analyst tells investors in a research note. The firm views the news as a positive read-across for Textainer (TGH).
Published first on TheFly
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Read More on TRTN:
- TRTN Surges after $13.3 Billion Acquisition
- Triton to be acquired by Brookfield Infrastructure Partners for $4.7B
- Brookfield Infrastructure Partners to acquire Triton in $13.3B deal
- Triton International expects Q1 adjusted EPS to decrease from 4Q22
- Triton International reports Q4 adjusted EPS $2.76, consensus $2.70
