Truist analyst Terry Tillman downgraded Olo (OLO) to Hold from Buy with a price target of $10.25, down from $10.50, following Thoma Bravo’s agreement to acquire Olo in an all-cash transaction valued at $10.25 per share. While the firm believes Olo’s “strong franchise value” could have attracted a variety of suitors, it assumes a buyout is consummated as proposed by Thoma Bravo, the analyst tells investors.
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Read More on OLO:
- Olo price target raised to $10.25 from $8 at Piper Sandler
- Olo downgraded to Sector Perform from Outperform at RBC Capital
- Olo’s Acquisition by Thoma Bravo: Analyst Holds Rating Amid Valuation Concerns and Deal Complexities
- Olo downgraded to Hold from Buy at Lake Street
- BTIG says Olo acquisition by Thoma Bravo a ‘very good deal’ for shareholders