Barclays analyst Brendan Lynch lowered the firm’s price target on Plymouth Industrial REIT (PLYM) to $22 from $24 and keeps an Equal Weight rating on the shares after the company entered into an agreement to be acquired by Makarora at $22 cash per share. This is below the $24.10 per shared bid from Sixth Street on August 19, which until Friday, appeared to be under review, the analyst tells investors in a research note.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLYM:
- Plymouth Industrial REIT price target lowered to $22 from $24 at BMO Capital
- Plymouth Industrial Reit Merger Agreement: Hold Rating Amid Valuation Uncertainty and Dividend Policy Changes
- Plymouth Industrial REIT Announces $2.1 Billion Acquisition
- Plymouth Industrial REIT to be acquired by Makarora for $22 per share, or $2.1B
- Plymouth Industrial REIT downgraded to Neutral from Outperform at Baird