OneStream downgraded to Hold from Buy at Truist

Truist downgraded OneStream (OS) to Hold from Buy with a price target of $24, down from $31, after it was officially announced that PE firm Hg will be acquiring the company for $24 per share in cash. The firm believes the M&A process and prior media reports about a potential buyout could have identified other viable offers, so it assumes this is the final deal and no other bids or suitors will come forward, the analyst tells investors.