Keefe Bruyette analyst Kyle Voigt downgraded Focus Financial to Market Perform from Outperform with an unchanged price target of $55. The analyst cites the recent rally in the shares and the company’s agreement with CD&R to be taken private at $53 per share for the downgrade. The firm admits it could be leaving some upside on the table if competing bids develop.
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Published first on TheFly
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Read More on FOCS:
- Focus Financial downgraded to Market Perform from Outperform at William Blair
- FOCS MERGER ALERT: Julie & Holleman Investigates Potential Legal Claims Related to Proposed Sale of Focus Financial to CD&R
- Focus Financial to be acquired by CD&R for $53 per share in cash
- Focus Financial downgraded to Sector Perform from Outperform at RBC Capital
- Focus Financial upgraded to Outperform from Market Perform at BMO Capital