Loop Capital upgraded Aspen Technology (AZPN) to Buy from Hold with a price target of $315, up from $265. The firm believes that Elliott’s attempt to leverage its 9% stake in Aspen and oppose the current tender offer from Emerson will likely result in a meaningfully higher bid, the analyst tells investors in a research note. Elliott contends that Emerson’s $7.2B tender offer “significantly undervalues the company”, Loop added.
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