Raymond James downgraded Confluent (CFLT) to Market Perform from Outperform without a price target after the company agreed to be acquired by IBM (IBM) for $31 per share or $11B. The firm cites the pending takeover for the downgrade.
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Read More on CFLT:
- Confluent’s Acquisition by IBM: Hold Rating Amid Valuation and Product Challenges
- Confluent downgraded to Perform from Outperform at Oppenheimer
- Confluent downgraded to Sector Perform from Outperform at RBC Capital
- Confluent downgraded to Peer Perform from Outperform at Wolfe Research
- Confluent downgraded to Neutral from Buy at DA Davidson