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Envestnet downgraded to Neutral from Buy at UBS

UBS analyst Alex Kramm downgraded Envestnet to Neutral from Buy with a price target of $63.15, down from $75, after the company entered into a definitive agreement to be acquired by Bain Capital for $63.15 per share. Until the transaction closes, the shares will trade on deal dynamics, rather than fundamentals, the analyst tells investors in a research note.

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