Deutsche Bank analyst Imron Zafar downgraded ShockWave Medical to Hold from Buy with a price target of $335, up from $270, after Johnson & Johnson (J&J) announced a definitive agreement to acquire Shockwave for $335 per share. Given the proprietary nature of Shockwave’s portfolio, the firm does not anticipate any FTC concerns. It exacts the deal to be completed around the mid-2024 timeframe.
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