Couchbase price target raised to $24.50 from $22 at Barclays

Barclays raised the firm’s price target on Couchbase (BASE) to $24.50 from $22 and keeps an Overweight rating on the shares. The firm views Couchbase’s potential acquisition by Haveli Investments as a positive for the story. As part of this deal, shareholders would receive $24.50 per share, a a29% premium to Wednesday’s close, the analyst tells investors in a research note. Barclays notes the agreement includes a “go-shop” period that will expire on Monday June 23. Hence, Couchbase could see and enter into a superior proposal, contends Barclays. The firm, however, views a higher offer during this period as improbable given potential competing offers would likely come from a financial sponsor, which would be challenging due to the short timeframe.