Squarespace price target raised to $47 from $44 at Barclays

Barclays analyst Trevor Young raised the firm’s price target on Squarespace to $47 from $44 and keeps an Equal Weight rating on the shares after the company received a revised $46.50 per share offer from Permira, a 6% premium from the prior $44 per share offer. The firm thinks this “best and final” offer, which is now structured as a tender to remove vote uncertainty, “is as good as it gets on this deal.” While the deal timing is still uncertain, a tender removes the need for a shareholder vote, so the deal is still on track to close before year-end, the analyst tells investors in a research note.