UBS downgraded Confluent (CFLT) to Neutral from Buy with a price target of $31, up from $29, after the company agreed to be acquired by IBM (IBM) for $31 per share or $11B. The firm’s base case is that the deal will close.
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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