Aspen Technology downgraded to Neutral from Outperform at Baird

Baird analyst Rob Oliver downgraded Aspen Technology (AZPN) to Neutral from Outperform with a price target of $265, down from $275, after the company reached an agreement under which Emerson (EMR) will acquire all outstanding shares of of AspenTech not already owned for $265.00 per share pursuant to an all-cash tender offer.