Analysts at Raymond James and Paradigm Research reportedly have lowered their respective ratings for Compass Petroleum Ltd (CPO.V) after Whitecap Resources (WCP.TO) offered to buy out the energy firm for either $1.60 in cash or 0.205 of a Whitecap common share.
Paradigm cut its rating for Compass from Buy to Tender with a $1.60 price target, down from $2.00 a share. Raymond James dropped its rating to Market Perform from Outperform.
Compass shares are up 3 cents today at $1.57 each. Whitecap shares also are higher, gaining 19 cents to reach $7.95 each in late trade.
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