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Instructure downgraded to Hold from Buy at Jefferies

Jefferies downgraded Instructure (INST) to Hold from Buy with a price target of $23.60, down from $30, after KKR (KKR) agreed to acquire the company for $23.60 per share. The multiple being paid “seems reasonable” and the takeout price at $23.60 implies limited upside from here, the analyst tells investors.

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