Baird analyst Michael Halloran downgraded Evoqua Water (AQUA) to Neutral from Outperform with an unchanged price target of $49 after the company entered into a definitive agreement under which Xylem (XYL) will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5B.
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Published first on TheFly
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Read More on AQUA:
- Evoqua Water reports Q1 EPS 7c, consensus 14c
- Xylem-Evoqua deal timing a surprise, but not tie-up, says Morgan Stanley
- Xylem deal for Evoqua priced ‘high’ but ‘great’ long-term fit, says Loop Capital
- Xylem upgraded to Buy from Hold at Stifel
- Evoqua Water rises 13.2%
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