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PropertyGuru downgraded to Neutral from Buy at Citi

Citi downgraded PropertyGuru to Neutral from Buy with a price target of $6.70, up from $6, after the company agreed to be acquired by EQT Private Capital Asia for $6.70 per share in cash. With a unanimous recommendation by the board and support from three major shareholders, Citi views the transaction as likely to go through upon regulatory approval. The firm views the price paid as reasonable.

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