Lake Street analyst Rob Brown downgraded Atlas Technical Consultants to Hold from Buy with a price target of $12.25, down from $22, after the company agreed to be acquired by private investment firm GI Partners in an all-cash deal valued at approximately $1.05B, including outstanding debt, or $12.25 per share. Public markets had "overly discounted" Atlas’ strong organic growth, margin expansion, and good execution due to relatively high leverage, said the firm, which believes this acquisition is "a good outcome."
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Published first on TheFly
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