Black Knight downgraded to Market Perform from Outperform at William Blair

William Blair analyst Stephen Sheldon downgraded Black Knight (BKI) to Market Perform from Outperform without a price target. The analyst believes the acquisition of Black Knight by Intercontinental Exchange (ICE) is likely to close in the coming weeks or months, especially after the announcement to also divest Optimal Blue to Constellation Software. With the implied deal spread now at 8% and the risk that the Federal Trade Commission continues to challenge the deal, William Blair says Black Knight’s risk/reward tradeoff is relatively balanced.