Baird analyst Andrew Wittmann downgraded Diversey to Neutral from Outperform with an unchanged price target of $8.50. The company earlier this month announced an agreement to be acquired by Solenis for $8.40 per share in cash, expected to close in the second half of 2023, the analyst tells investors in a research note. The firm expects the transaction to close despite a 5% spread in shares to the deal price.
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Read More on DSEY:
- Diversey Reports Fourth Quarter and Full Year 2022 Results
- Diversey reports Q4 adjusted EPS 9c, consensus 11c
- Diversey downgraded to Neutral from Outperform at Credit Suisse
- Diversey price target raised to $8.40 from $5.80 at BMO Capital
- Diversey downgraded to Equal Weight from Overweight at Morgan Stanley