Jefferies analyst Surinder Thind downgraded Semrush (SEMR) to Hold from Buy with a price target of $12, up from $10, after the company announced a definitive agreement to be acquired by Adobe (ADBE) for $12 per share. The firm believes this is “a solid outcome for investors” given ongoing concerns around AI disrupting Semrush’s business that are unlikely to dissipate anytime soon and expects the deal to close as announced.
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