MoneyLion downgraded on pending takeover at B. Riley

B. Riley analyst Hal Goetsch last night downgraded MoneyLion (ML) to Neutral from Buy with a price target of $90, down from $133, after the company reached a deal in December to be acquired by Gen Digital (GEN) for $82 per share in cash and one contingent value right. The “go-shop” provision expired on January 24, so B.Riley does not expect any higher bids at this time, the analyst tells investors in a research note. Also, the deal has until September 10 to close, indicating MoneyLion should trade with little upside from its current level, contends the firm.