Altra Industrial downgraded on lack of other suitors at Loop Capital

Loop Capital analyst Scott Graham downgraded Altra Industrial Motion (AIMC) to Hold from Buy with an unchanged price target of $62 after the company entered into a definitive agreement to be acquired by Regal Rexnord (RRX) for $62 per share. The analyst believes Altra is worth more than the Regal Rexnord offer. But with no other suitors emerging, the firm downgrades the shares.