Telsey Advisory raised the firm’s price target on Guess (GES) to $16.75 from $13 and keeps a Market Perform rating on the shares. The firm is updating its price target on the stock following the company’s announcement of its go private agreement with Authentic Brands valued at $1.4B, the analyst tells investors. The firm notes the transaction valuation appears reasonable and increased its price target to reflect the per-share transaction value.
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Read More on GES:
- Target names CEO successor, Guess to go private: Morning Buzz
- Guess? Announces Merger Agreement with Authentic Brands
- Authentic Brands to take Guess private in $16.75 per share acquisition
- Guess to go private, shareholders to receive $16.75 per share in cash
- Guess price target raised to $13 from $12 at UBS