Wolfe Research downgraded Altair to Peer Perform from Outperform. The firm notes on Wednesday, Altair (ALTR) announced that it has reached an agreement to be acquired by Siemens (SIEGY), for $113 per share in an all-cash deal, representing an equity value of approximately $10.6B. The take-out price of $113 per share is, in Wolfe Research’s opinion, a good outcome for shareholders and represents a 19% premium to Altair’s unaffected price and a 13% premium to its unaffected all-time high closing price.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ALTR:
- Altair price target raised to $113 from $90 at RBC Capital
- Altair downgraded to Hold from Buy at Needham
- Altair downgraded to Hold from Buy at Loop Capital
- Altair downgraded to Market Perform from Outperform at William Blair
- Altair Reports Strong Q3 2024 Results Amid Siemens Merger
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.