RBC Capital downgraded Penumbra (PEN) to Sector Perform from Outperform with a price target of $374, up from $355. The firm cites Boston Scientific’s (BSX) agreement to acquire Penumbra in a stock-and-cash transaction that values Penumbra at $374 per share for the downgrade.
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Read More on PEN:
- Penumbra downgraded to Hold from Buy at Canaccord
- Penumbra: Rating Cut to Hold as Boston Scientific Takeout Caps Upside at $374 Deal Price
- Penumbra downgraded to Hold from Buy at Jefferies
- Penumbra downgraded to Hold from Buy at Needham
- Boston Scientific price target lowered to $100 from $125 at Oppenheimer