Piper Sandler downgraded ShockWave Medical to Neutral from Overweight with a price target of $335, down from $360, after the company entered into an agreement under which Johnson & Johnson (JNJ) will acquire it for $335 per share in cash.
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Read More on SWAV:
- M&A News: Johnson & Johnson (NYSE:JNJ) Enters Into $13.1B Shockwave Medical Deal
- Shockwave Medical Set for Acquisition by Johnson & Johnson
- ShockWave Medical price target raised to $360 from $290 at Piper Sandler
- Piper says competitive process could materialize for ShockWave
- ShockWave Medical initiated with a Buy at CL King