Truist raises SolarWinds price target to $18.50, sees deal closing on time

Truist analyst Miller Jump raised the firm’s price target on SolarWinds (SWI) to $18.50 from $13 and keeps a Hold rating on the shares after the company announced an agreement to be acquired by Turn/River Capital. The firm does not see significant overlap in the observability space that would raise antitrust concerns when viewing the existing Turn/River Capital portfolio and given that the majority shareholders have agreed to the deal, Truist sees it as likely to close in the indicated Q2 timeline.