BMO Capital analyst Daniel Jester downgraded Dayforce (DAY) to Market Perform from Outperform with a price target of $70, up from $67, after the company agreed to be acquired by Thoma Bravo for $70 per share in cash. The multiples being paid “represent a small, but appropriate, premium” to peer Paycor when it was acquired in a strategic transaction earlier this year, the analyst says.
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