Northland downgraded Cantaloupe (CTLP) to Market Perform from Outperform with a price target of $11.20, down from $12, citing the pending acquisition by 365 Retail for $11.20 per share. The 34% valuation premium puts the deal in the upper quartile of transactions, the analyst tells investors in a research note. The firm believes Cantaloupe’s “process was thorough.”
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Read More on CTLP:
- Cantaloupe downgraded to Market Perform from Outperform at William Blair
- Cantaloupe downgraded to Hold from Buy at Craig-Hallum
- Cantaloupe downgraded to Neutral from Buy at B. Riley
- Cantaloupe downgraded to Hold from Buy at Benchmark
- Cantaloupe downgraded to Underperform from Outperform at Barrington