Canaccord analyst Richard Close raised the firm’s price target on Premier (PINC) to $28.25 from $25 and keeps a Hold rating on the shares. The firm noted it was announced that Premier entered into a definitive agreement to be acquired by an affiliate of Patient Square Capital for $28.25 per share or a transaction value of roughly $2.6 billion. The deal has been unanimously approved by Premier’s Board of Directors and Canaccord sees the transaction as favorable to shareholders as the stock lacks near-term catalysts.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PINC:
- Pfizer to acquire Metsera, Oracle names new CEOs: Morning Buzz
- Premier Announces Merger with Patient Square Capital
- Premier to be acquired by Patient Square Capital for $28.25 per share in cash
- Premier’s Unique Position and Strategic Moves Lead to Hold Rating Amid Valuation Uncertainty
- Cautious Outlook on Premier Amid Acquisition Speculations and Market Challenges