BofA analyst Koji Ikeda is moving to No Rating on Enfusion (ENFN) after it was announced that the investment management vertical software vendor is being acquired by Clearwater Analytics (CWAN) for $1.5B in a mix of cash and stock. Given Enfusion’s current growth and profitability profile, the firm believes the acquisition price is “reasonable,” adding that it believes shares are no longer trading on fundamentals due to the proposed acquisition.
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