Cantor Fitzgerald analyst Jay Kornreich downgraded Modiv (MDV) to Neutral from Overweight with a price target of $19, up from $18, after the company entered into a merger agreement under which Global Net Lease (GNL) will acquire Modiv in an all-stock transaction valued at an enterprise value of $535M, or $18.82 per share.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDV: