Wells Fargo thinks DigitalBridge (DBRG) should have been valued $2-$4 per share higher than the $16 takeout price paid by SoftBank (SFTBY). However, Wells expects the deal to close as it doubts any competing bids will emerge. “If no other attractive offers are out there, we can understand DBRG’s rationale for accepting the $16 bid, even if it feels a little light to us,” the analyst tells investors in a research note. Wells has an Overweight rating on DigitalBridge with a $16 price target
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DBRG:
- DigitalBridge downgraded to Sector Perform from Outperform at RBC Capital
- DigitalBridge downgraded to Hold from Buy at TD Cowen
- AI Daily: SoftBank Group to acquire DigitalBridge in $4B deal
- DigitalBridge Stock (DBRG) Jumps 10% as Analysts React to SoftBank’s Acquisition Push
- Midday Fly By: SoftBank buying DigitalBridge, Verisk drops AccuLynx deal