Imago BioSciences downgraded to Hold from Buy at Stifel

Stifel analyst Stephen Willey downgraded Imago BioSciences (IMGO) to Hold from Buy with a price target of $36, up from $35, following last week’s proposed acquisition of the company by Merck (MRK). He believes the Imago board conducted a "sufficiently diligent process" and would anticipate this transaction to close as currently expected in Q1 of 2023.