Synchronoss downgraded to Neutral from Buy at Roth Capital

Roth Capital downgraded Synchronoss (SNCR) to Neutral from Buy with a $9 price target after the company agreed to be acquired by Lumine Group (LMGIF), through one of its wholly-owned subsidiaries, in an all-cash transaction. The firm, which calls an exit “a fair decision” says that given the agreed upon acquisition price it views other suitors as “unlikely to emerge.”