RBC Capital downgraded DigitalBridge (DBRG) to Sector Perform from Outperform with a price target of $16, down from $23, after SoftBank (SFTBY) announced the acquisition of DigitalBridge in an all-cash offer for $16 per share, representing a total enterprise value of $4B. RBC expects deal approval and assumes no counter offer.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DBRG:
- 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
- DigitalBridge rises 9.7%