Canaccord analyst David Hynes downgraded Qualtrics to Hold from Buy with a price target of $18.15, up from $18, after the company received a non-binding proposal from Silver Lake and the Canadian Pension Plan to acquire all outstanding shares at $18.15 per share in cash. The analyst views the deal as a "reasonable outcome" for Qualtrics. Canaccord thinks it is unlikely that a premium bidder emerges and expects that Qualtrics and Silver Lake will execute the transaction as structured.
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Published first on TheFly
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