Oppenheimer analyst Ittai Kidron downgraded Confluent (CFLT) to Perform from Outperform without a price target after the company agreed to be acquired by IBM for $31 per share or $11B. The firm believes a sale to IBM makes sense for Confluent and views the price paid as “reasonable.”
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Read More on CFLT:
- 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
- Confluent downgraded to Neutral from Outperform at Mizuho
- Confluent downgraded to Hold from Buy at Deutsche Bank