Loop Capital analyst Yun Kim raised the firm’s price target on New Relic to $87 from $80 and keeps a Hold rating on the shares after the company announced an agreement to be acquired by TPG and Francisco Partners at $87 per share in cash in a $6.5B deal. The firm states that it is not expecting any competing bid to emerge.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NEWR:
- New Relic downgraded to Neutral from Outperform at Baird
- New Relic downgraded to Neutral from Outperform at Credit Suisse
- New Relic downgraded to Sector Perform from Outperform at RBC Capital
- New Relic (NYSE:NEWR) Surges on $6.5B Acquisition Deal
- New Relic rises 13.4%
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue