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.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MNTV: