Needham downgraded Momentive (MNTV) to Hold from Buy after the company entered into agreement to be acquired by Symphony Technology Group for $9.46 per share. The deal price fairly values Momentive based on the firm’s estimated growth to EBITDA margin profile for FY23, while also taking into account the increased level of uncertainty surrounding the business that led management to not provide a full year guidance for 2023, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on MNTV:
- MNTV Jumps on $1.5B Acquisition by Symphony Tech
- Momentive to be acquired by Symphony Technology Group for $1.5B in cash
- Momentive sees Q1 revenue flat to up 2%, consensus $124.2M
- Momentive announces workforce reduction of 14%
- Momentive reports Q4 adjusted EPS 14c, consensus 10c
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