TaskUs downgraded to Neutral from Outperform at Baird

Baird downgraded TaskUs (TASK) to Neutral from Outperform with an unchanged price target of $16.50. The stock has rallied slightly past the $16.50 price agreed upon for Blackstone to take the company private, the analyst tells investors in a research note. While Baird considers it possible that the transaction was announced to garner interest from other potential buyers, it expects the deal to get done, saying the large industry participants are “quite levered and still absorbing large deals they’ve done in recent years.”