CIBC analyst Stephanie Price adjusted the firm’s rating on Telus Digital (TIXT) to Tender from Neutral with a price target of $4.50, up from $3.40, after parent Telus (TU) offered to take Telus Digital private at $4.50 per share. The definitive bid has the approval of Telus Digital’s special committee and EQT, which owns 37.7% of subordinate voting shares, the analyst noted.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TIXT:
- Telus Digital downgraded to Hold from Buy at Stifel
- Kraft Heinz announces separation, Elliott builds $4B PepsiCo stake: Morning Buzz
- Hold Rating on TELUS International Amid Acquisition by TELUS Corp and Limited Upside Potential
- TELUS to Acquire Full Ownership of TELUS Digital for $539 Million
- Telus to acquire full ownership of Telus Digital for $4.50 per share