Stephens downgraded Ruth‘s Hospitality (RUTH) to Equal Weight from Overweight with a price target of $21.50, up from $20, after Darden (DRI) announced a deal to buy the company for $21.50 per share. The proposed takeout valuation is in-line with the industry’s long-run average take-out multiple, the firm noted.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on RUTH:
- Darden Restaurants and Ruth’s Hospitality Group Provide Updated Call Information for Thursday, May 4, 2023 Conference Call
- Darden Snaps Up Ruth’s Hospitality Group for $715 Million
- Darden Restaurants to Acquire Ruth’s Hospitality Group in $715 Million Transaction
- Darden to acquire Ruth’s Hospitality Group for $21.50 per share or $715M
- Ruth’s Hospitality Group (RUTH) Q1 Earnings Cheat Sheet
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue