UBS downgraded CyberArk (CYBR) to Neutral from Buy with a price target of $485, up from $480, after the company confirmed its intent to be acquired by Palo Alto Networks (PANW) in a $25B cash and stock deal. UBS assumes the deal closes and that no other bidders emerge.
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Read More on CYBR:
- CyberArk downgraded to Neutral from Outperform at Wedbush
- CyberArk downgraded to Neutral from Overweight at Piper Sandler
- CyberArk downgraded to Neutral from Buy at Guggenheim
- CyberArk downgraded to Sector Perform from Outperform at RBC Capital
- Palo Alto Networks downgraded to Sector Weight from Overweight at KeyBanc